Greek bulk carrier operator W Marine has made its first foray into the container ship market by signing its debut order at a Chinese shipyard.
According to TradeWinds, W Marine has signed a letter of intent with Huanghai Shipbuilding for the construction of 2+2 1,800 TEU container ships. The new vessels will use conventional fuel and be ungeared, with delivery expected in 2028. The specific price has not been disclosed. For reference, Clarksons’ data shows that the current newbuilding price for a 1,800-2,100 TEU container ship is approximately $32 million (about RMB 231 million), a 2% increase from $31.5 million during the same period last year.
W Marine Managing Director Nikos Triantafyllakis confirmed the order. He stated that 2028 will be a pivotal year for transformation in the container shipping market, as the aging global container fleet will urgently require renewal, and charterers will be eager to lease modern vessels, forcing a large number of obsolete ships to exit the market.
W Marine believes the newly ordered container ships will complement its existing and under-construction fleet of 18 Panamax and Post-Panamax bulk carriers. Triantafyllakis noted, “This is an ideal move for us, allowing both fleet diversification and renewal with vessels equipped with the latest technology.”
Previously, W Marine’s investment focus had been on bulk carriers capable of flexible operations in the Indian Ocean region, which the company views as having significant economic growth potential. The planned container ships, however, can operate anywhere in the world based on charterers’ needs.
W Marine sees this investment in container ship construction as an extension of its existing strategy. Triantafyllakis said, “With this arrangement, we will participate in both bulk commodity transportation and finished consumer goods transportation.”
It is understood that W Marine’s current operating fleet consists of 16 bulk carriers, primarily Post-Panamax and Kamsarmax types, all acquired as secondhand vessels, mostly built at Chinese shipyards between 2010 and 2016. Early last year, the company returned to the newbuilding market after a 16-year hiatus, placing an order for two Kamsarmax bulk carriers at CSSC Chengxi, with delivery expected in 2026.
The 1,800 TEU container ships ordered by W Marine are Huanghai Shipbuilding’s flagship model in recent years. Since 2022, Huanghai Shipbuilding has secured batch orders for 1,800 TEU container ships, achieving internationalization, large-scale production, serialization, and specialization in the construction of this vessel type. According to Clarksons, Huanghai Shipbuilding currently ranks first globally in the sub-3,000 TEU feeder container ship market, with a total of 34 vessels on order.
Huanghai Shipbuilding was established in 1944. In recent years, the company has actively responded to China’s “Maritime Power” strategy, seizing the historical opportunity of transitioning from old to new growth drivers. By focusing on structural adjustments and product transformation, it has carved out a distinctive development path in large ro-ro passenger ships, cargo-passenger vessels, multipurpose heavy-lift ships, and large ocean-going fishing vessels. Today, Huanghai Shipbuilding has become a key construction base for ro-ro passenger ships, multipurpose heavy-lift ships, and specialized vessels in China.
Excluding the latest order, Clarksons’ data shows that Huanghai Shipbuilding currently has a total orderbook of 80 vessels totaling 2.1938 million deadweight tons, including 34 container ships, 15 multipurpose heavy-lift ships, 10 chemical tankers, 16 general cargo ships, 4 open-hatch bulk carriers, and 1 other vessel type, with deliveries scheduled through 2028.
