Singapore shipowner Eastern Pacific Shipping (EPS) has signed its first feeder container ship order in four years.
It is reported that EPS recently placed an order at China Merchants Industry Jinling Shipyard for six 1800TEU container ships. The new vessels will use conventional fuel, with each ship costing approximately $30 million, bringing the total value of the six ships to about $180 million (approximately RMB 1.292 billion). They are scheduled for delivery between late 2027 and 2028.
For reference, Clarksons’ data shows that the current newbuilding price for a 1800-2100TEU container ship is around $32 million, a 2% increase from $31.5 million during the same period last year.
If this order is confirmed, it will be EPS’s first feeder container ship order in the past four years. Shipbrokers noted that there is strong demand for fleet renewal in the feeder segment, with some owners even placing speculative orders. Clarksons’ June container ship report revealed that nearly 40% of the global fleet of feeder container ships (2999TEU and below) currently in operation are over 15 years old, while the orderbook for this segment stands at only 189 vessels.
This year has seen a surge in new orders for feeder container ships. According to Clarksons, in the first half of the year, there were 29 orders for 1000-1999TEU feeder ships—more than half of last year’s total of 50. Orders for 2000-2999TEU feeder ships reached 20, compared to just 13 for the entirety of last year.
It is understood that EPS is one of the world’s largest independent shipowners, with over 60 years of excellence in the shipping industry. Headquartered in Singapore, it employs 6,000 seafarers and more than 450 shore-based staff, managing a diversified fleet of over 270 vessels, including bulk carriers, container ships, car carriers, tankers, chemical tankers, LPG carriers, and LNG carriers. The total deadweight tonnage is 28 million, with an average vessel age of under 10 years, including more than 80 dual-fuel ships.
Since 2021, EPS has been active in the newbuilding market, ordering over 120 new ships at shipyards in China, Japan, and South Korea. Clarksons’ data shows that EPS currently has 105 newbuilds under construction, covering container ships, car carriers, liquefied gas carriers, and tankers. Once all these vessels are delivered by 2029, EPS’s fleet size is expected to exceed 300 ships.
For China Merchants Industry Jinling Shipyard, this will be its first container ship order in four years. It is reported that Jinling Shipyard’s last container ship order was in 2021, when Zhonggu Logistics placed an order for eight 4636TEU container ships, which were delivered between 2023 and 2024.
Last month, reports indicated that Greek shipowner Chios Navigation entered the container ship market by signing a letter of intent with China Merchants Industry Jinling Shipyard for 2+2 1800TEU container ships. The new vessels will use conventional fuel, with each ship costing slightly more than $31.5 million.
Excluding the latest order, Clarksons’ data shows that China Merchants Industry Jinling Shipyard currently has an orderbook of 66 vessels totaling 2.19 million deadweight tons, including 11 bulk carriers, 32 car carriers, 14 multipurpose vessels, 6 chemical tankers, and 3 methanol bunkering vessels, with deliveries scheduled through 2028.
