Latsco expands box ship fleet with 2+2 feeder order in China

The traditional Greek shipowner has signed a deal with Huangpu Wenchong Shipbuilding, a subsidiary of CSSC, for two firm plus two optional 1,900-TEU container vessels. According to an official disclosure from the shipyard, this marks the first collaboration between the two parties.

The vessels will feature optimised hull lines, lightweight construction, and cargo flexibility – specifically tailored for regional feeder services. Huangpu Wenchong has already secured 42 orders for its 1,900-TEU design, with 30 units delivered and operating globally.

This deal stands out as one of the few recent feeder segment orders placed by Greek shipowners. Industry majors such as Danaos Corp, Navios Maritime Partners and TMS Group have recently focused on larger-size assets. The feeder segment, by contrast, has typically seen more activity in the secondhand market, led by owners like Minerva Dry and Contships. Notably, Capital Group has placed orders this year for both larger vessels and ships in the 1,800–2,800 TEU range.

Strategic turn to China

Huangpu Wenchong described the deal as strategically significant, as traditional customers of Japanese and South Korean shipyards increasingly look to China for newbuildings. Latsco is clearly part of this trend.

According to its website, Latsco currently operates a fleet of 32 vessels, including tankers, gas carriers, bulk carriers and container ships. The company is also pursuing a diversified newbuilding programme: five LR2 tankers and four LPG carriers in South Korea, and four Ultramax bulkers under construction in Japan.

In its latest weekly report, MB Shipbrokers noted that a range of European and Asian owners are actively seeking slots in the 2,800–5,000-TEU segment in China. “With slot availability tightening, particularly at Chinese yards, we now see shipyards managing to sell slots far into 2028 at the same price levels concluded for 2027 slots just 1-2 months ago,” the analysts said.

A broader container market foray

Latsco entered the container ship market in 2022 through a resale deal that saw the delivery of two newbuild feeder vessels, Marla Tiger and Marla Bull.

The Latsis family has since deepened its container shipping exposure with its first deal involving the US public markets. Marla Investments has acquired a majority stake in Euroholdings, a Nasdaq-listed spin-off from Aristides Pittas-led Euroseas. Euroholdings was established in response to rising investor interest in older container assets, according to its former principals. The company currently manages two feeder vessels built in 1997 and 1999.

Following the acquisition, Euroholdings board members Aristides Pittas and Anastasios Aslidis resigned. They were replaced by Latsco shipping chief executive George Margaronis and chief financial officer Christos Triantafillidis.