Greece's Cape Shipping resumes box ship ordering with pair of 3,100-TEU vessels

Shipbrokers and market sources have linked the Greek owner with an order at China’s New Dayang Shipbuilding for two 3,100-TEU ships, with deliveries expected from Q2 2028 onwards. Cape Shipping has been approached for comment.

European shipbrokers estimate the construction cost of each vessel at around US$44-45M.

This reported order reflects a broader trend in the container vessel market in recent weeks, as Greek owners increasingly place contracts with Chinese yards for feeder and mid-size vessels. Notable players include Minerva Dry, Chartworld, Alberta Shipmanagement, Oceanbulk and Conbulk, all ordering ships up to 5,000 TEU.

MB Shipbrokers noted in its latest weekly report that contracting activity strengthened last week in the container vessel market, with around 244,000 TEU added to the orderbook.

Analysts commented, “The volume of new enquiries and projects remains high, with solid demand particularly for feeder and mid-size tonnage.”

Tanker return, diversified strategy

Founded in 1987 in Athens, Cape Shipping initially focused on the dry cargo market before expanding into container vessels. According to Equasis, the company currently operates 17 ships, a mix of tankers, bulk carriers and container vessels.

In late 2023, the owner made a significant return to the tanker market, signing contracts for Aframax and LR2 vessels in China. Since then, Cape Shipping has reportedly added orders for LR1, Aframax and Suezmax tankers, with deliveries scheduled through 2027.

The company has also been active in selling some mid-aged container vessels, with French liner giant CMA CGM emerging as a major buyer.