On September 5, ElbFeeder, a joint venture between Icelandic shipowner Eimskip and German shipowner Ernst Russ, announced an order for 2+2 new-generation 2280 TEU dual-fuel container ships at China Merchants Industry Jinling Shipyard.
The new vessels are expected to be delivered in the second half of 2028. Including the optional orders, this will increase the ElbFeeder fleet size to 11 ships. This series of vessels is equipped with dual-fuel engines, prepared for the use of LNG and methanol. With an overall length of 185 meters and a beam of 29.4 meters, the ships are specifically designed to meet customer demands, emphasizing service speed, reliability, and high maneuverability. They will become the largest vessels in the Eimskip fleet.
This vessel type was developed by ElbFeeder in cooperation with the Shanghai Merchant Ship Design and Research Institute (SDARI). It is specifically optimized for the harsh sea conditions of the North Atlantic route, incorporating future-oriented environmentally friendly design concepts while balancing operational flexibility and cost-effectiveness. The optimized hull structure helps improve hydrodynamic performance, achieving a higher service speed while maintaining fuel efficiency and operational reliability.
Project funding will be financed through a strategic combination of equity and debt from ElbFeeder, ensuring financial flexibility and a robust capital structure.
The specific price of this contract has not been disclosed. For reference, Clarksons data shows that the current newbuilding price for a 2100 TEU feeder container ship is approximately $32 million (about RMB 229 million), flat compared to the same period last year.
According to the plan, upon delivery, these two new vessels will be long-term chartered to Eimskip for operation under a 10-year charter. They will be deployed on Eimskip’s “Blue Line” service, connecting Reykjavik, Rotterdam, and Teesport. This operational model allows Eimskip to future-proof its Northern European trade routes, while the joint venture ElbFeeder also secures a long-term stable source of income, creating added value for its existing asset portfolio.
Vilhelm Mar Thorsteinsson, CEO of Eimskip, stated: “We are very pleased to take this important step in renewing our fleet. The delivery of the new vessels presents significant opportunities, especially considering Iceland’s ambitious plans for fresh seafood and salmon exports. Over the past few years, our transatlantic route from Europe to North America has also shown strong growth, which has laid a solid foundation for our weekly service from Iceland to North America. The new vessels will support the further development of this route. We are very proud of this vessel design, which focuses on customer service, operational efficiency, and reliability. The design also leaves room for a transition to alternative energy sources, which can be implemented once the technology is mature and economically viable. This will strongly support the company’s environmental progress. The solid partnership and mutual trust established with our German joint venture partner Ernst Russ were key to achieving this outcome and will further strengthen our ongoing cooperation.”
Joseph Schuchmann, Co-CEO and Chief Commercial Officer of Ernst Russ, emphasized: “This investment will be a landmark project, representing Ernst Russ’s first newbuilding project in decades. We are very pleased to advance this project with our long-term partner Eimskip, which, as the initial long-term charterer, has made a significant contribution to the project’s financial viability.”
It is understood that Eimskip currently operates a fleet of 16 vessels, including 10 container ships, 4 refrigerated vessels, and two ferries operating in Iceland. It also has an extensive land transport network, terminal operations, and cold chain storage facilities. Ernst Russ manages a fleet of 26 vessels, some of which are operated with strategic partners.
This latest order is the second container ship order for China Merchants Industry Jinling Shipyard this year. It is understood that in July, Jinling Shipyard received an order for 6x 1800 TEU container ships from Singaporean shipowner Eastern Pacific Shipping (EPS), marking its return to the container ship construction market after a four-year hiatus. Prior to this, its last container ship order was in 2021, when Zhonggu Logistics ordered a total of 8x 4636 TEU container ships, which were delivered between 2023 and 2024.
Including the latest order, Clarksons data shows that as of now, China Merchants Industry Jinling Shipyard has a total orderbook of 72 vessels totaling 2.295 million deadweight tons. This includes 31 car carriers, 14 multi-purpose vessels, 10 bulk carriers, 8 container ships, 6 chemical tankers, and 3 methanol bunkering vessels, with deliveries scheduled through 2028.
