Greek shipowners’ investments in new containerships exceed $ 2 billion

Of George Georgiou

This year’s investments in new container vessels by companies of Greek interests, which utilize the liquidity they gathered from the high fares of the market, have surpassed all previous ones.

According to data from the shipping brokerage company Golden Destiny and based on the announcements of the last few days, the Greek orders for new containerships exceed 30 and are approaching 2 billion dollars.

In fact, as competent sources say in Capital.gr, The total investment exceeds $ 2 billion, as the data available do not include the options that are exercised in previous contracts, but only the new agreements are presented.

The most productive month so far was July, when about 10 orders were placed, amounting to $ 446.8 million, while investments over $ 400 million were made in February (four orders of $ 407 million) and March (four orders of $ 420 million).

These data become even more important if one considers that the cost of building new containerships has “climbed” this year to the highest point in recent years. Indicatively, a newly built post panamax with a capacity of 9,000 TEUs costs, according to Allied Shipbroking, $ 124.5 million, when the average price of the last five years is $ 90.5 million.

Motion – surprise from Costamare

The Greek order book of new containerships has greatly expanded, after the investment of Costamare by Kostis Konstantakopoulos, which was announced yesterday. The shipping company ordered eight ships, with a capacity of 13,000 and 15,000 TEUs. Both of them concern new contracts and the other options in previous agreements.

Shipping brokerage sources tell Capital.gr that the cost of building a containership, with a capacity of 13,000 TEUs, is currently approaching 145 million dollars.

“It was heard that Costamare was seeking to order ships, but no one expected such a big deal,” he said. Capital.gr analyst, a sample of the surprise with which the market received the company’s investment.

It is noted that the ships will start delivering to Costamare from mid-2023. This is due to the fact that the majority are options in contracts already secured by the company. This is an important note, as most containerships ordered today will be delivered in 2024 and 2025.

Greek orders

Aggeliki Frangou’s Navios Maritime Partners has also ordered several ships. After ordering 4 + 2 containerships in a Chinese yard in the middle of summer, it returned at the end of November for a new investment involving 2 + 2 steamers.

At the same time, Vaggelis Marinakis ‘Capital Maritime, Tsakos Shipping & Trading, interests of the Tsakos family and Aristides Pittas’ Euroseas, have invested this year in new containerships.

A shipbuilding program for four ships, with a capacity of 13,000 TEUs each, is said to have been run by Lou Collakis’s Chartworld this year. Newer information, transmitted by Alphaliner, stated that the German container transport giant Hapag – Lloyd allegedly acquired two of them and chartered the other two for a long time.

“Sold out” the shipyards

The movements of the Greeks keep pace with the trend worldwide. According to Clarksons Research Services, of the total orders placed internationally in the first ten months of 2021, 44% by capacity and 42% by value are containerships.

“I think the shipowners have exaggerated this year. Soon most shipyards will be sold out, if they are not already,” he said. Capital.gr freight broker. “The wise strategy today is to wait. Therefore, I hope there will be no more orders soon,” he added.

The fear of many analysts is that when the many containerships built today are delivered, supply will exceed demand and the freight market will be on a bad track.