Pappas-led Oceanbulk linked to rare container vessel order in China 

Shipbroking and market sources have linked Oceanbulk to a contract for two 3,100-TEU vessels at Zhoushan Changhong, with deliveries scheduled between 2027 and 2028. The owner has been approached for comment.

Petros Pappas founded Oceanbulk Maritime, a dry cargo shipping company, in 1989. He later established affiliated companies involved in the ownership and management sectors of the shipping industry.

Equasis currently lists Oceanbulk as operating five bulk carriers. According to multiple shipping data platforms, the company has no active container ships in its portfolio, meaning the reported order would mark its return to the market.

Mr Pappas also serves as chief executive of dry bulk giant Star Bulk, which operates 137 active bulk carriers and has five Kamsarmaxes under construction.

Oceanbulk appears to be following a growing trend among Greek shipowners this year, many of whom are expanding into the small-to-medium container ship segment. Riviera first reported that traditional bulker and tanker player Alberta Shipmanagement entered the sector with an order for a pair of 1,930-TEU vessels.

Industry players such as Danaos Corp, Capital Group, Minerva Dry, Chartworld, Latsco Shipping and Euroseas have all placed similar orders in 2025.

According to Xclusiv Shipbrokers’ latest monthly report, the orderbook-to-fleet ratio in the feeder segment stood at 7.1% (in TEU terms) at the end of September, up from 3.7% at the close of 2024. In the Handy segment, the ratio climbed to 12.4%, compared with 4.5% a year earlier.