First order in four years! CSSC Huangpu Wenchong Shipyard returns to the container ship market

Greek shipowner Chios Navigation is entering the container ship market, planning to order up to four feeder container ships from domestic shipyards.

According to TradeWinds, Chios Navigation has signed a 2+2 letter of intent with CSSC Huangpu Wenchong Shipbuilding for the construction of 1800TEU container ships. The new vessels will use traditional fuel, consistent with the company's existing and under-construction fleet of tankers and bulk carriers. The construction cost of each vessel is slightly higher than US\$31.5 million, and the total transaction amount will be approximately US\$126 million (approximately RMB 905 million) after the confirmation of the optional orders.

For reference, Clarksons' data shows that the price of a newly built 1800-2100TEU container ship is currently around US\$32 million, a 2% decrease compared to US\$31.5 million in the same period last year.

This will be Chios Navigation's first order for container ships. Clarksons' data shows that the company currently operates a fleet of 10 vessels, including 7 bulk carriers and 3 chemical tankers. In addition, it has ordered 2 50,000-dwt chemical tankers from Hyundai Vinashin Shipyard (HVS), scheduled for delivery in 2027.

It is worth mentioning that the two largest vessels in Chios Navigation's current fleet were built by the predecessor of CSSC Huangpu Wenchong Shipbuilding—Changjiang Shipbuilding Huangpu Wenchong Shipyard. These are the 93,115-dwt bulk carrier "Doric Warrior" (built in 2010) and the 82,084-dwt "Doric Liberty" (built in 2012). Past cooperation experience may be one of the reasons why Chios Navigation chose Huangpu Wenchong Shipbuilding to build its first batch of container ships.

For CSSC Huangpu Wenchong Shipbuilding, this will be its first container ship order in the past four years. It is understood that the last time Huangpu Wenchong Shipbuilding undertook a container ship order was in 2021, when Cosco Shipping Logistics ordered a total of 8 4636TEU container ships. These new ships were delivered successively in 2023 and 2024.

Excluding the latest order, Clarksons' data shows that CSSC Huangpu Wenchong Shipbuilding currently has a total order backlog of 68 vessels with 2.29 million DWT, including 11 bulk carriers, 33 car carriers, 15 multipurpose vessels, 6 chemical tankers, and 3 methanol carriers, with delivery dates extending to 2028.

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