Tsakos Group expands container vessel fleet with rare S&P deal

According to shipping data platforms, 2014-built Irenes Southern, formerly known as Bfad Southern, was added to the Tsakos Group fleet in late 2024. Shipbroker sources indicate the vessel is currently chartered to Danish shipping giant Maersk until September 2025, with an option for a 12-month renewal. The ship was built at the Huangpu Wenchong shipyard in China.

While Tsakos Group is primarily focused on renewing its fleet through large newbuilding deals, most of which are secured with long-term charter contracts, the company also pursues attractive, modern vessels in the secondhand market when opportunities arise.

As of December 2024, Tsakos Group’s fleet list shows a total of 11 container vessels, with Irenes Southern ranking as the second-largest in terms of TEU capacity. Notably, Tsakos received several 2,800-TEU newbuildings during 2023-2024.

The broader Tsakos Group manages a fleet of 101 vessels, the majority of which are tankers. The company is also active in the LNG carrier, bulk carrier, and container vessel sectors. Additionally, the Tsakos family controls Tsakos Energy Navigation, a US-listed company founded by Nikos P Tsakos, which focuses on the tanker and LNG carrier markets.

S&P activity slows

The container vessel S&P market showed signs of slowing last week, with MB Shipbrokers reporting several players are remaining on the sidelines due to heightened uncertainty surrounding the Red Sea situation.

As the Chinese New Year holidays conclude and many return to work, it will be interesting to see whether market activity picks up, analysts noted.

Riviera recently reported French liner CMA CGM has been active in the market, securing deals for a Greece-owned 2,190-TEU vessel and several smaller ships in the 1,900-TEU segment.