Six orders finalized! LPG vessel experts return to the container ship market.

More than two years later, Nantong CIMC Pacific Offshore Engineering, which focuses on the LPG vessel market, has once again secured an order for a feeder container ship.

Recently, Danaos, a Greek shipowner listed in the U.S., announced it has placed an order for six 1,800-TEU feeder container ships. The new vessels are expected to be delivered between 2027 and 2029, though the shipyard name and exact price have not been disclosed. However, according to Clarkson data, the order was awarded to CIMC Pacific Offshore Engineering.

For reference, Clarkson's data shows that the current price of a newbuild 1800–2100 TEU container ship is approximately US$32 million (about RMB 227 million), slightly down from US$32.25 million during the same period last year.

Danaos has already finalized 10-year charter contracts for four of its new vessels, totaling approximately US$236 million (about RMB 1.676 billion), which now nearly covers the entire construction cost.

Danaos has not disclosed information about the charterer. It is understood that the company's largest customer at present is Germany's Hapag-Lloyd, accounting for 19% of Danaos' total contracted revenue—US$4.1 billion—as of 2038. Following closely behind are Mediterranean Shipping Company, Pacific Basin Shipping, and France's CMA CGM, each contributing 17% to 18%.

Including the latest order, Danaos now has 23 new ships under construction, of which 21 already have charter contracts secured, averaging 5.8 years in length, with total charter revenue reaching US$4.1 billion.

Danaos CEO John Coustas stated that the company has selectively expanded its new ship-building plans at prices below market value. He expressed optimism about the container shipping market in the coming years, noting: "Demand for medium- to large-sized vessels remains robust, and we’ve already secured new charter contracts for ships scheduled for delivery as early as early 2028. Meanwhile, shipyard capacity for deliveries in 2028 is becoming increasingly scarce, driving newbuild prices steadily higher."

It is understood that Danaos is currently one of the world's largest independent container ship owners, operating a fleet of 75 container vessels ranging in size from 2,200 TEU to 13,100 TEU, with a total capacity of 477,491 TEU. The company has also secured long-term ship charter agreements with several leading container shipping lines. In addition, Danaos owns 11 Capesize bulk carriers, collectively boasting a deadweight tonnage of 1.94 million tons. Notably, all 23 of the company’s currently under-construction container ships are being built by Chinese shipyards—excluding the latest six vessels contracted to CIMC Pacific Offshore Engineering, which include seven 8,258-TEU container ships from Yangzijiang Shipbuilding, five 9,200-TEU containers from Shanhaigang Heavy Industry, as well as two 7,165-TEU vessels; two 9,200-TEU containers from Huangpu Wenchong Shipyard; and one 6,014-TEU container ship from China Merchants Industry Qingdao Shipyard. All of these new ships are expected to be delivered and put into operation sequentially before 2028.

For CIMC Pacific Offshore Engineering, Danaos' latest order marks its "return" to the container ship-building sector. Notably, CIMC Pacific Offshore Engineering last secured a container ship order in June 2023, when German shipowner Hartmann Schiffahrts placed an order for two 1,450-TEU dual-fuel LNG-powered vessels—this also became CIMC Pacific Offshore Engineering's first-ever container ship contract. The new ships were delivered and put into operation this July and September, respectively.

China International Marine Containers (CIMC) Pacific Offshore Engineering is a leading enterprise in the niche markets of small- and medium-sized liquefied gas carriers and LNG bunkering vessels. With 16 years of dedicated expertise in the liquefied gas vessel sector, the company boasts independent capabilities in designing, building, and managing projects for marine liquid tanks, fuel tanks, and entire ships. To date, CIMC Pacific has delivered over 40 diverse liquefied gas vessels—including the world’s largest newly built 20,000-cubic-meter LNG bunkering ship and the globe’s first 5,000-cubic-meter dual-fuel, fully pressurized LPG carrier—solidifying its position as a global market leader.

According to Clarkson's data, including the latest orders, CIMC Pacific Offshore currently holds a total of 46 vessels with a combined deadweight tonnage of 748,300 tons. These include 17 LNG bunkering vessels, 12 LPG carriers, 6 offshore support vessels, 6 container ships, 2 general cargo vessels, 2 tugboats, and 1 bulk carrier, with delivery schedules extending as late as 2029.