Greece's Cosmoship linked to profitable asset play with two newbuild feeders

The two vessels, Legacy C and Ability C, each with a capacity of 1,182 TEU, were constructed by China’s CSSC Wuchang Shipbuilding Industry Group.

Notably, Legacy C, delivered to Cosmoship in late 2024, has already been renamed Mild Symphony and appears in Shanghai Jinjiang Shipping’s liner schedules, as listed on the company’s website. Shipbrokers report Ability C was sold alongside Legacy C as part of an en bloc transaction with the same buyer.

While the exact price of the reported resale remains undisclosed, market sources suggest Cosmoship likely secured a figure above the approximately US$24M it paid per vessel when placing the order in 2022. The Greek shipping company is well known for its profitable asset play strategy in the sale and purchase (S&P) market. According to Equasis, Cosmoship currently operates a fleet of 32 vessels, comprising both container ships and bulk carriers.

With these latest acquisitions, Shanghai Jinjiang Shipping strengthens its fleet, which now consists of 52 vessels with a combined capacity of 55,179 TEU, according to Alphaliner. Of these, 25 vessels are owned, while 27 are chartered. The same source ranks Shanghai Jinjiang Shipping as the 35th-largest carrier in its top-100 list.

Feeder market drives S&P activity

MB Shipbrokers reported last week that the feeder segment continues to attract strong interest in the secondhand vessel market, with buyers from China, Europe and the Middle East actively seeking tonnage.

Among recent deals, a Greek-owned 2,800-TEU vessel, built in 2007, was reportedly sold on private terms to an Asian operator. Additionally, a European liner operator has been linked to the acquisition of two 1,300-TEU vessels built in 2005 and 2007.

Riviera has reported feeders have also been at the forefront of recent discussions between owners and shipyards, following a series of newbuilding deals primarily focused on larger vessel sizes.