Evangelos Marinakis-controlled Capital Maritime has booked in a large order for 18 container ship newbuildings worth $1.26bn at two HD Hyundai Group shipyards.
In a filing on Monday, HD Korea Shipbuilding & Offshore Engineering, the holding group company of HD Hyundai group shipyards, said it had signed a contract to build 18 container ships.
HD KSOE priced the orders at KRW 1.82 trillion ($1.26bn) but did not name the contracting party, describing them as a shipping company based in Oceania.
It said HD Hyundai Mipo and HD Hyundai Samho would build the 18 vessels.
The ships are due to be delivered by the first half of 2028.
Newbuilding brokers said the vessels are for Capital’s account.
TradeWinds reported on 3 April that Capital was finalising contracts on up to 20 ships.
At the time, the Greek owner was linked to six LNG dual-fuel boxships of 8,800 teu at HD Hyundai Samho priced at about $140m each.
These vessels are understood to have enlarged LNG fuel tanks designed to extend the trading range.
Capital was also in talks to contract eight container ships of 2,800 teu and six of 1,800 teu at HD Hyundai Mipo.
The smaller scrubber-fitted vessels were priced at $55m and $45m each.
They have been designed with increased auxiliary power to give them the potential to be fitted with onboard CO2 capture systems in the future.
Capital, which had previously identified a shortage of container ships in these size ranges, appears to have selected South Korean yards over Chinese ones at a time when the Trump administration was outlining its proposals to penalise vessels built in China.
In the past 10 days, it has since modified the proposals.
In 2024, Capital orders 10 boxships of 8,800 teu at China’s New Times Shipbuilding and had been in talks with Chinese yards for other boxship slots.
HD KSOE said to date this year, including these latest container ships, it has received orders for 49 ships worth $6.16bn and achieved 34.2% of its provisional annual target of $18.05bn.
The yard group said its orders comprise one LNG carrier, four LNG bunker vessels, a quartet of LPG/ammonia carriers, two ethane carriers, 34 container ships and four tankers.(Copyright)
Posted 28 April 2025 8:41 GMT Updated 28 April 2025 8:41 GMT
