News / Newbuild orders still favour feeders as carriers chase MSC fleet record

Photo: VesselFinder

Orders for newbuild containerships continued this week, mainly for smaller vessels, after MSC became the first carrier to have 1,000 ships in its fleet.

The Swiss-Italian market leader reached the milestone last week with the delivery of the 11,480 teu MSC Migsan from Zhoushan Changhong International Shipyard.

MSC’s insatiable appetite to grow its fleet with newbuildings and second-hand ship purchases, shows how quickly the operator is consolidating its pole position and creating an insurmountable gap between itself and its peers.

And the past fortnight has proved something of a landmark for the carrier, following the announcement that founder Gianluigi Aponte has handed over control of the business to his daughter, group CFO Alexa, and son, MSC president Diego.

Meanwhile, in the fleet stakes, Taiwanese mainline operator Evergreen is among MSC’s competitors trying hard to catch up, commissioning six 24,000 teu LNG dual-fuelled ships at South Korean shipbuilder Hanwha Ocean, at a cost of $1.6bn, around $267m each.

According to Alphaliner, Evergreen’s orderbook of 1.05m teu is now 46% of its current fleet, of 1.94m teu. The newbuildings will be delivered in March 2028 and feature advanced eco-friendly technologies like air lubrication systems and shaft generator motors.

Evergreen is also launching an overseas green bonds issue to finance two dozen 16,000 teu methanol dual-fuelled newbuildings contracted at Samsung Heavy Industries and Imabari Shipbuilding in 2023. These vessels are being progressively delivered until 2028. The coupon rate for the bonds, which will have a maturity of three to five years, has not been disclosed.

Otherwise, containership orders in the past week continue to be dominated by feeder and sub-panamax sizes.

Chinese tonnage provider Juhe Wisdom Technology (Zhejiang) commissioned six 4,350 teu ships at compatriot shipbuilder Taizhou Jianxing Heavy Industry, after ordering two similar vessels in September. Each is thought to be priced around $45m and will be delivered around 2028.

Norse Shipholding, owned by the Roed family of Norway, has ordered four 1,800 teu ships at Fujian Shipbuilding Industry Group, with options for two more. Priced around $33m each, the vessels will be delivered between 2028 and 2029. Norse’s in-service fleet comprises five containerships and four bulk carriers. Charterers of Norse box ships include CMA CGM, ONE, and Qatar-based Milaha.

UK shipping investor Hayfin Capital, active in the tanker and dry bulk segments, has entered the container sector with an order for a 3,100 teu pair at Penglai Zhongbai Jinglu Ship Industry. Delivery of the ships priced around $45m each is expected in 2028.

A newcomer Chinese shipowner, Chonghang Shipping, has ordered its first vessel, a 1,056 teu boxship, at Ningbo Penghong Shipbuilding Heavy Industry.

MB Shipbrokers commented: “The overall picture remains largely unchanged, with the feeder segment continuing to attract the majority of interest. At the same time, discussions around larger LNG dual-fuelled containervessels persist, despite increasing yard capacity being absorbed by strong demand in the tanker and LNG carrier segments.”

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