Latsco firms up options for two additional feeders, expanding container footprint

Shipbroking and market sources report that the prominent Greek owner has contracted two more 1,900-TEU vessels at CSSC subsidiary Huangpu Wenchong Shipbuilding, bringing its total orders at the yard to four units.

Riviera first reported on the deal earlier this year, marking the inaugural collaboration between Latsco and the Chinese shipbuilder.

Although pricing details remain undisclosed, shipbrokers estimate each vessel’s construction cost at approximately US$31M, with deliveries scheduled through the third quarter of 2028.

At the time of the initial signing, Huangpu Wenchong described the contract as strategically significant, noting traditional clients of Japanese and South Korean yards are increasingly turning to China for newbuildings.

According to its website, Latsco operates a diverse fleet of 33 vessels including tankers, gas carriers, bulk carriers and container ships. The company also maintains a broad newbuilding programme comprising five LR2 tankers and two LPG carriers under construction in South Korea, and three Ultramax bulkers in Japan.

Feeder market momentum continues

The recent ordering surge in the feeder container vessel segment showed no signs of slowing last week. According to MB Shipbrokers, several fresh orders for feeders and mid-size vessels were placed, adding roughly 71,800 TEU to the global orderbook.

“The feeder segment continues to see firm demand, with prices moving sideways. Delivery slots are now available only 2.5 to 3 years ahead, with the most reputable builders having the longest coverage,” analysts noted.

Data from Intermodal shows that by mid-October, 157 feeder container ships had been ordered globally this year, lifting the total feeder orderbook to 293 units. Consequently, the orderbook-to-fleet ratio has risen from a record low of 4.6% in March to 7.5%.

Greek shipowners have been leading this renewed wave of feeder investment. Notable players include Capital Group, Minerva Dry, Chartworld, Alberta Shipmanagement and Oceanbulk – most of which have also chosen Chinese shipyards for their newbuildings.