News / Hunt for more tonnage continues, but more quietly

Photo: PIL

Showing a renewed interest in larger tonnage, Singapore’s Pacific International Lines (PIL) is ordering eight 13,000 teu ships – South Korea’s HD Hyundai Heavy Industries and China’s Hudong-Zhonghua each building four.

PIL, which focuses on regional trades, invited tenders for the LNG dual-fuelled newbuildings in November, requesting deliveries between late 2028 and early 2029.

The carrier had chosen Chinese shipyards for its recent newbuildings, but opted to include HD-HHI this time as it could meet the delivery time. The newbuildings are priced around $190m each.

It is PIL’s first newbuilding order in South Korea since 2011, when HD-HHI was contracted to build some feeders.

Other newbuilding orders this week include six 3,000 teu ships for Cosco at affiliate Cosco Shipping Heavy Industry (Zhoushan). At $47m each, the conventionally fuelled ships will be delivered in the second half of 2028 for intra-Asia and other regional lanes.

The China state-owned line has also finalised orders for 12 LNG dual-fuelled 18,000 teu ships at Jiangnan Shipyard that were among 87 newbuild orders announced in December. Upon delivery between 2028 and 2029, the ships, costing $201m each, will serve east-west routes.

MSC is purchasing four 4,370 teu newbuild resales commissioned by Chinese owner Shengsi Pusheng Shipping commissioned at Nantong Yahua Shipbuilding, with deliveries starting at year-end. MSC is paying $52m for each.

Meanwhile, it is also in talks to buy 30 of Sinokor Merchant Marine’s containerships. The South Korean tonnage provider also operates feeder vessels in intra-Asia lanes. The transaction with MSC is believed to help offset Sinokor’s recent $2bn acquisition of 100 second-hand supertankers.

This week Linerlytica said it believed the newbuilding binge was far from over, with more orders set to be inked before Chinese New Year in mid-February.

MB Shipbrokers said it was seeing more enquiries for 13,000 teu ships, particularly in South Korea, highlighting sustained interest in the mid-to large container segments.

The Danish brokerage added: “Overall, while 2026 has started quietly in terms of firm orders, the interest level across segments remains high, and several projects are expected to materialise in the near term.”