George Economou accelerates return to container shipping with secondhand acquisition

Now, the prominent Greek shipowner has further accelerated this return by acquiring a modern container ship from the secondhand market – making it the only active ship of this type currently in the group’s fleet.

Shipping data platforms list TMS Dry, the dry bulk arm of the group, as the new owner and manager of 2024-built, 5,500-TEU vessel ZIM Yangtze. Previously owned by German owner Elbdeich Reederei, the ship was chartered to liner operator ZIM for seven years shortly after its delivery from South Korea’s HJ Shipbuilding & Construction.

Market sources and shipbrokers indicate the sale was finalised at the end of Q1 2025.

TMS Group’s newbuilding initiative

In February, Chinese shipbuilder Zhoushan Changhong revealed TMS Group had placed an order for 10 LNG dual-fuel container vessels, each with a capacity of 11,400 TEU. Valued at approximately US$1.4Bn, this contract marked George Economou’s return to container shipping after a period of absence.

By April, it was announced Container Ventures Holdings – part of the TMS Group – would supply seven of these 11,400-TEU vessels to ZIM under long-term charter agreements.

Mr Economou has long been a major player in global shipbuilding, running an extensive orderbook spanning tankers, bulk carriers, gas carriers, and now container vessels.

The TMS Group’s renewed focus on container ships places it alongside other leading Greek owners such as John Coustas’ Danaos Corp, Evangelos Marinakis’ Capital Group, Angeliki Frangou’s Navios Maritime Partners, and Aristides Pittas-led Euroseas – all of whom have invested significantly in container newbuilds in recent years.