Marinakis' Capital linked to fresh feeder boxship orders at Hyundai Mipo

On 29 September, HD Hyundai Mipo disclosed two separate orders: one vessel priced at about US$44.5M, and two vessels with a combined value of US$114.0M. Shipbrokers suggested the pricing points to the single-vessel order being for an 1,800-TEU unit, while the two-vessel order is likely for 2,800-TEU ships. All three vessels are scheduled for delivery in the second half of 2027.

In both cases, Hyundai Mipo identified the buyers only as “Oceania-based shipowners.” However, shipbroking and market sources have linked the contracts to Capital.

Capital is already a major client of the South Korean yard, with an active fleet that includes nine of its 1,800-TEU designs and four 2,800-TEU vessels. In July, Riviera reported that the owner had placed an order for two additional 2,800-TEU ships, possibly as options to a previous deal. With the latest reported contracts, Capital’s aggressive 2025 newbuilding campaign now includes six vessels over 8,000 TEU and 19 smaller units of 2,800 and 1,800 TEU, all contracted with HD Hyundai.

According to Alphaliner, Capital is partnering with French liner giant CMA CGM to charter out most of its newbuild feeder fleet.

The prominent Greek shipowner has focused exclusively on South Korean yards this year. Beyond container vessels, Capital has also booked LNG carriers at HD Hyundai and VLCCs at Hanwha Ocean.

Ordering rally

South Korean media reported that Hyundai Mipo has already secured orders for 21 feeder container ships in 2025, a sharp rise from just six in 2024. The shipbuilder has boosted its competitiveness with a new hull form that improves propulsion efficiency.

Greek owners have been particularly active in container vessel ordering this year. Players include Costamare (led by Konstantinos Konstantakopoulos), Danaos Corp (led by John Coustas), Navios Maritime Partners (led by Angeliki Frangou), TMS Group (George Economou), Latsco Shipping (backed by Paris Kassidokostas-Latsis), and Chartworld (run by the Kollakis family).