Minerva Dry continues to expand its fleet, taking a step further in the container ship sector, by ordering a new series of 3,000 teu capacity ships in China, the largest it has ordered to date.
Sources from the shipbuilding industry reported that Andreas Martinos’ Minerva Dry signed an agreement with Penglai Zhongbai Jinglu Ship Industry for three ships expected to be delivered between 2027 and 2028.
According to brokerage sources, these slots at the shipyard, worth approximately $45 million each, were initially held by Songa Box, with the support of Norwegian shipowner Arne Blystad, but became available after the talks failed, paving the way for Minerva’s entry.
Meanwhile, Songa Box has been linked with Taizhou Sanfu Ship Engineering for the construction of two ships, also having an option for two more of the same size and capacity.
The newbuildings will mark an upgrade for Minerva’s growing boxship fleet, which until now had focused on smaller 1,800 teu capacity ships. The company already has orders for four 1,800 teu ships at Yangzijiang Shipbuilding and Huanghai Shipbuilding, with their deliveries scheduled for 2027-2028.
Minerva Dry, part of the wider Minerva Marine group, began diversifying beyond dry bulk carriers in 2022, when it first entered the container ship market.
Since then, the Greek shipowning company has spent more than $250 million on secondhand ships, acquiring eight modern container ships with a capacity between 1,780 and 2,430 teu.
The latest order signals the company’s intention to expand and have a more stable presence in the 3,000+ teu sector, a specialized market that has seen increasing interest from traditional bulk carrier and tanker companies, amid more stable returns and increased demand on key regional routes.
Personally, I consider this move by Minerva Dry to clearly demonstrate the strategic maturity and vision required in shipping today. The era when a company could rely exclusively on one type of ship is over.
The most insightful shipowners are seeking flexibility and diversification, realizing that market cycles change unpredictably. Seeing Greek companies investing proactively and opening new paths in container shipping, in a ship category that combines efficiency and stability, shows a new mindset in our shipping, more mature, more extroverted, but also more realistic towards the challenges of the future.
