Greek owner Conbulk linked to order for two mid-size box ships in China

Shipbroking and market sources link the Greek owner to an order for two 5,000-TEU container ships at Yangzhou Guoyu Shipyard, with deliveries expected to commence by the end of 2027.

Conbulk currently manages a fleet of 34 vessels, primarily feeder container ships along with two bulk carriers. The company has been particularly active in the sale and purchase (S&P) market in recent years, steadily growing its fleet. According to Equasis data, its most recent acquisition was 3,500-TEU Adelie P, a 2007-built vessel that joined the fleet over the summer.

Notably, Conbulk is not the only Greek owner linked to Guoyu. In September, Riviera reported the Kollakis family controlled Chartworld Shipping signed a letter of intent with the revived yard for the construction of up to eight 3,100-TEU box ships.

Market sources note that, since returning to business, Yangzhou Guoyu’s orderbook has been dominated by domestic Chinese owners. The yard, which filed for bankruptcy in 2021, was reorganised under new ownership and management three years later.

Rising activity across Chinese yards

According to MB Shipbrokers, the market has remained active across a range of container sizes – from 1,800 TEU to 6,000 TEU – with most new projects being placed at Chinese yards.

A European liner operator is also reportedly close to finalising two long series of 3,500-TEU and 4,500-TEU ships in China.

Strong demand for feeder and mid-size vessels has helped stabilise asset prices this year, even as large-tonnage values have experienced some correction, MB Shipbrokers noted.

The robust demand for feeders has also attracted non-traditional container vessel builders, who are competing at lower prices than established shipbuilders to gain a foothold, analysts added.