By Paris Tsirigotis

 

Demand for container ships is on the rise lately based on the number of deals on the secondary market and in shipyards.

 

The significant increase in freight rates, as a result of the crisis in the Red Sea, is rekindling the investment interest in shipping.

 

The Greek shipping companies are also quite active, which generally prefer second-hand ships, of the feeder type.

 

In terms of shipbuilding, the most recent order from a Greek company was placed at the end of June by Navios Maritime Partners. The shipping giant signed an agreement with the South Korean shipyard HJ Shipbuilding & Construction for the construction of two containerships, with a capacity of 6,900 TEUs each, with a scheduled delivery time of 2026.

 

These are ships equipped with advanced technological features, which after conversions will be able to burn methanol (methanol ready).

 

Second hand vessels

 

In the field of second-hand vessels, shipping sources have recently linked Chartworld with the purchase of the Hansa Wolfsburg (capacity 1,700 TEUs and built in 2007), for approximately 14.2 million dollars.

 

Recent buyers include Contships Management, which acquired Warnow Mate (1,496 TEUs capacity and built 2010).

 

Erasmus Shipinvest Group, the company founded in 2010 by Chinese interests and based in Vouliagmeni, recently delivered the Erasmus Leo (capacity 1,891 TEUs and built in 2013). This is the former Starship Leo, which – according to shipping sources – was reportedly sold during this year, for 16 million dollars.

 

Shipping company Braemar said the ship has already been chartered to Danish liner Maersk for 15,500 dollars a day in a deal of up to six months.

 

Also, Element Shipmanagement was enhanced in the last few days with the LM Ares (capacity 1,341 TEUs and built in 2006).

 

Shipping sources say the vessel – previously known as the Algol – has a one-year charter.

 

Shipping: 20 companies represent 72% of the Greek orderbook

 

 

The investment rally of the Greek shipping companies continues, with the orderbook reaching 531 orders. More and more Greek shipowners are placing orders, including George Prokopiou, Vangelis Marinakis, George Economou, Maria Angelikousi, Angeliki Fragou, Dr. Nikos Tsakos, Kriton Lentoudis and Leon Patitsas.

 

According to Xclusiv data, from the June 2024 order book, Greek “big names” have a significant presence in the Greek order book. Specifically, 20 out of 72 Greek companies (28%) have placed 384 out of a total of 531 orders (72%).

 

In terms of newly built vessels, Allied’s figures are revealing. In the last 12 months, Greek shipowners have placed 212 orders, while the Chinese are on 137 commercial ships.

 

As Xclusiv pointed out, there has been a significant increase in the number of companies investing in the newly built vessels over the past two years.

The number of companies investing has increased by around 35%, reaching 512 in 46 countries at the beginning of June 2024. Greece and China led the increase, with growth of 20% and 18% respectively over the past 24 months.

 

In May 2022, 60 Greek shipping companies had ships on order. This number has increased significantly, with 72 Greek companies currently active in the newbuild market.

 

Chinese shipping companies have also seen significant expansion. In May 2022, 130 Chinese companies had invested in the specific market. This number has increased by 18%, with 153 companies operating today.