Ordering two more container ships! Greek shipowner boosts investment in Chinese shipyards

Recently, Greek shipping giant Latsco Shipping confirmed the execution of its optional order placed with Huangpu Wenchong, placing an additional order for two 1,900-TEU container ships.

Latsco Shipping signed a contract with Huangpu Wenchong in July of this year for the construction of two 1900-TEU conventional-fuel feeder vessels, with an option to build two additional ships. The vessel now officially coming into effect is one of the optional units. The first two of these four ships are scheduled for delivery in 2027, while the most recently activated pair will be delivered in June and August 2028. Each new vessel is expected to cost around US$31 million, bringing the total value of all four ships to approximately US$124 million (about RMB 884 million).

For reference, Clarkson data shows that the current price of a newbuild 1800–2100 TEU container ship is approximately $32 million, slightly down from $32.25 million during the same period last year.

This new batch of ships features the "Honghu" series design, independently developed by Huangpu Wenchong. The ship design integrates advanced shipbuilding concepts such as green and smart technologies. Through optimized overall layout, it effectively reduces the vessel's weight while significantly enhancing its cargo capacity and loading efficiency. Additionally, the hull shape has been fine-tuned for multiple draft levels and varying speeds, making it perfectly suited for regional operations that involve frequent port calls and intensive loading/unloading activities. This not only boosts the ship's overall economic performance but also ensures broad market adaptability, aligning seamlessly with today’s growing global trend toward environmental sustainability and green development.

It is understood that Latsco Shipping, a leading enterprise in Greece's shipping industry, operates a diversified fleet of more than 30 vessels, including 14 product tankers, 6 gas carriers, 4 ultra-large crude oil carriers (VLCCs), 2 LNG carriers, and several bulk cargo ships. Its business spans across major global shipping routes.

In recent years, Latsco Shipping has been actively pursuing diversified growth beyond its traditional oil tanker and liquefied gas vessel businesses. The company made its first foray into the container shipping sector in 2022, partnering with Japanese shipowner Shōei Kisen to order two 1,900-TEU container vessels from Imabari Shipbuilding. At the same time, Latsco remains highly active in the product tanker market, recently placing an order with South Korea’s K Shipbuilding for up to four 50,000-ton MR-type tankers.

The order from Huangpu Wenchong marks Latsco Shipping's first-ever collaboration with a Chinese shipbuilder, fully demonstrating Latsco Shipping's high level of trust in Huangpu Wenchong's capabilities in ship design, construction expertise, and product quality—thus laying a solid foundation for even deeper cooperation between the two companies in the future. This order also signifies that Huangpu Wenchong's independently developed "Honghu" series of feeder container vessels has returned to the Greek market after many years.

It is understood that Huangpu Wenchong is a key shipbuilding enterprise under China Shipbuilding Group and also the largest shipbuilding unit in South China. The company boasts extensive experience in ship construction and repair, with its product quality earning global recognition from shipowners. Notably, feeder container ships, commercial cargo vessels, dredgers, offshore engineering vessels, and research survey ships are among the flagship products representing the company's civilian shipbuilding division.

As the world's leading shipyard for building feeder container vessels, Huangpu Wenchong boasts extensive construction experience and an outstanding market reputation in the container ship sector. In recent years, the company has actively embraced a green development strategy, driving product upgrades and innovations while deepening international collaborations to foster a new model of win-win growth. In the 4,300 TEU and smaller feeder container vessel segment, Huangpu Wenchong secured 24 new ship orders in 2024 and currently holds 48 vessels on hand—both figures ranking first globally. Looking ahead, Huangpu Wenchong will closely follow its development plan to "excel in marine and maritime industries," with a strong focus on securing container vessel contracts for ships up to 11,000 TEU.

According to Clarkson's data, excluding the latest orders, Huangpu Wenchong currently holds a total of 133 ship orders amounting to 5.55 million deadweight tons. These include 76 container ships, 21 bulk carriers, 14 LPG vessels, 9 multipurpose ships, 9 offshore engineering vessels, and 4 other types of ships, with delivery schedules extending as far as 2029.