Zhoushan Changhong International shipyard has confirmed a newbuilding deal with MSC for four (with a pair of two-vessel extension options) 21,700-TEU LNG dual-fuel container vessels.
Local reports indicate the contract marks the largest container vessel type ever secured by Zhoushan Changhong. While the delivery timeline remains undisclosed, the vessels are expected to launch by 2028.
Shipbroking sources estimate each vessel costs over US$205M, bringing MSC’s total commitment, if all options are exercised, to more than US$1.6Bn.
MSC and Zhoushan Changhong have a well-established relationship, with industry sources indicating MSC has ordered 32 vessels from the shipyard over the past two and a half years, excluding this latest deal.
According to Alphaliner, MSC currently has 129 vessels on order, with a combined capacity close to 2M TEU.
Economou returns to container vessel market
Meanwhile, Zhoushan Changhong has secured a 10-vessel order from TMS Group, signalling George Economou’s return to the container shipping sector after several years. The 11,400-TEU LNG dual-fuel ships are valued at approximately US$1.4Bn. This marks the first collaboration between TMS Group and Zhoushan Changhong.
The vessel designs for both projects were developed by CIMC Ship and Offshore Engineering Design and Research Institute.
Mr Economou has been a dominant force in shipbuilding, amassing a substantial orderbook across tankers, bulk carriers, gas carriers, and now container vessels. TMS Group joins other Greek owners such as John Coustas’ Danaos Corp, Evangelos Marinakis’ Capital Group, and Angeliki Frangou’s Navios Maritime Partners, all of whom have invested in container newbuilds in recent years.
LNG dominates newbuilding market
The container ship newbuilding market has surged since last year, with liner operators and tonnage providers rapidly filling available shipyard slots. “With limited demand for new tanker, gas and bulk carrier orders, a number of shipyards remain heavily focused on container newbuilding projects,” MB Shipbrokers noted in a recent report.
Furthermore, both MSC and TMS Group’s projects reaffirm LNG’s position as the preferred alternative fuel for new container vessels, despite methanol gaining traction in the sector. This trend is further supported by a wave of new LNG bunker vessel orders, reinforcing the necessary infrastructure.
According to DNV, 69% of all container ship orders placed in 2024 were for alternative-fuel-capable vessels, with 67% opting for LNG.
Source: rivieramm.com