The newbuilding boom continued unabated in October, with Greek shipowners once again leading global activity for another month, placing 40 new orders, excluding options included in the agreements.
The difference this month is that the mix of new orders is more balanced than in previous months, when tankers of all types dominated. According to Naftemporiki, by the end of last week orders had been placed for 12 bulk carriers, 12 tankers, 14 containerships and two gas carriers.
In the bulk carrier segment, Lavinia Bulkers, controlled by Panos Laskaridis, invested $312 million in four Newcastlemax vessels, each with a carrying capacity of 212,000 DWT.
According to shipbroking sources, the vessels will be built at Zhoushan Changhong International Shipyard. Lavinia’s tanker arm has also been linked this year to an order for four Suezmax tankers, each with a carrying capacity of 157,000 DWT, at South Korea’s DH Shipbuilding.
Pavimar, controlled by Ismini Panagiotidi, has also ordered four Kamsarmax dry bulk carriers. The vessels will be built at Hengli Heavy Industries, with deliveries scheduled by 2029. Based on current prices in the Chinese shipbuilding market, which range from $37.5 million to $38.5 million per vessel, the order is estimated to be worth around $150 million to $154 million.
EuroDry, controlled by Aristides Pittas, has added another Kamsarmax to its newbuilding programme. This will be the third vessel to be built at Hengli. The total value of the three ships stands at approximately $111 million.
Almi Marine has opted for another bulk carrier category, the Ultramax. The company, owned by the Daskalopoulos-Sara family, has ordered three Ultramax vessels at COSCO Zhoushan shipyard.
According to current Clarksons estimates, a standard newbuild Ultramax of Chinese construction costs approximately $36 million, putting the value of the programme at around $108 million. The three vessels to be built at Zhoushan will each have a carrying capacity of 64,000 DWT.
Containerships
In the containership segment, Contships, controlled by Nikolas D. Pateras, attracted particular attention with an announcement on 1 October. The company signed a letter of intent with Hubei Guangji Green Energy Shipbuilding Group for the construction of ten feeder containerships with a capacity of 1,324 TEU each.
The agreement also includes two consecutive options for ten additional vessels each, potentially bringing the programme to a total of 30 ships.
Danaos, led by Dr John Coustas, has further expanded its newbuilding programme with two more containerships of 9,200 TEU each, valued at $218 million. The vessels will be built at China’s CSSC Hudong-Zhonghua shipyard, with delivery scheduled for early 2029.
Following the latest order, Danaos’ newbuilding programme comprises 37 containerships and four Newcastlemax dry bulk carriers ordered since early 2022, representing a total investment estimated at approximately $3.2 billion.
The Tsakos Group has also invested in containerships, despite its primary focus on tankers and its position as an operator of one of the largest fleets in the sector. The group has ordered two containerships, each with a capacity of 3,200 TEU, at China’s Hengli Heavy Industries.
This is the Greek group’s first order for newbuild containerships since 2022, with both vessels scheduled for delivery in the fourth quarter of 2028.
Earlier in 2026, the Tsakos Group ordered two Capesize bulk carriers at the same shipyard. With the addition of the two containerships, its orderbook has grown to 23 vessels, spanning tankers, LNG carriers, dry bulk carriers and containerships.
Alpha Gas, controlled by Anna Angelicoussis, has ordered two very large gas carriers with a capacity of 88,000 cubic metres and the ability to transport ammonia at Hengli Heavy Industries. The VLGC/VLAC vessels will be capable of carrying both liquefied gases and ammonia.
Following the new agreement, Alpha Gas’ orderbook has increased to six gas carriers. These comprise the two newbuilds at Hengli, two LNG carriers with a capacity of 174,000 cubic metres, one 93,000-cubic-metre VLGC/VLAC at Hanwha Ocean and one 88,000-cubic-metre VLGC/VLAC at HD Hyundai Heavy Industries.
Expansion
Latsco Shipping, controlled by Paris Kassidokostas-Latsis, is also expanding its newbuilding programme. The company has signed a $154 million contract with South Korea’s SK Oceanplant for the construction of two Aframax tankers, each with a carrying capacity of 115,000 DWT, with options for two additional vessels.
The shipping company operates a diversified fleet of more than 30 vessels active in the tanker and liquefied gas transportation sectors.
Akrotiri Tankers, owned by Marialena Procopiou and Konstantinos Lampsias, is expanding its newbuilding programme at New Times Shipbuilding to two Suezmax tankers, following an order for a second crude oil carrier with a capacity of 157,000 DWT.
The new vessel will have the same specifications as the first Suezmax ordered by Akrotiri at the same shipyard earlier this year, at a price of approximately $82 million. Delivery of both vessels is targeted for 2029.
In September, the company also ordered two very large ammonia carriers (VLACs), each with a capacity of 93,000 cubic metres, for delivery in 2029.
Akrotiri’s broader orderbook also includes two LR1 product tankers, each with a carrying capacity of 75,000 DWT, ordered at the end of last year at approximately $59 million per vessel.
Carlova Maritime has ordered two Aframax crude oil tankers, each with a carrying capacity of 114,000 DWT, at Japan’s Imabari Shipbuilding. Deliveries are scheduled for the fourth quarter of 2029 and the first quarter of 2030.
Current market benchmark prices put the cost of a newbuild Aframax crude oil tanker at approximately $75 million. Both vessels will have a carrying capacity of 114,000 DWT.
During the same period, Liquimar Tankers ordered three Suezmax crude oil tankers, each with a carrying capacity of 157,000 DWT, at China’s Jiangsu New Hantong Ship Heavy Industry. The company, owned by the Papadimitriou family, is expected to take delivery of the vessels from the second half of 2030 onwards.
The order coincides with Liquimar’s sale of two Suezmax tankers built in 2007, Orpheas and Evridiki, to Dubai-based energy products trading company Onex DMCC.
Meanwhile, Top Ships, controlled by Evangelos Pistiolis, has agreed to build four MR product tankers, each with a carrying capacity of 50,000 DWT.
The vessels are under construction at Guangzhou Shipyard International and will join the Top Ships fleet. The company is listed on the New York Stock Exchange.
All four vessels have already been fixed on seven-year time charters with a major oil company whose identity has not been disclosed. The charters will commence upon delivery.
Source: Naftemporiki