News / Shipowner interest in newbuilds remains firm outside Europe

Taiwan’s Evergreen showed its ambition last week as the seventh-largest shipping line finalised orders for five 24,000 teu LNG dual-fuelled ships at Guangzhou Shipyard International, for between $1.3bn and $1.48bn.

Evergreen’s directors approved the newbuilding order in 2025, but the contract was only finalised after assessing builders’ bids. The ships will be delivered in 2029.

George Yourokos-controlled Global Ship Lease (GSL), whose boxship fleet is all second-hand, has inked its first newbuilding orders, commissioning eight 6,200 teu ships at Taizhou Sanfu Ship Engineering, for delivery between 2029 and 2030. Each costs between $72m and $75m.

Given GSL’s practice, it is likely that a charterer is lined up. Its clients include the five largest shipping lines, MSC, Maersk, CMA CGM, Cosco, and Hapag-Lloyd.

Shanghai Changshun Shipping, a low-key Chinese tonnage provider, has expanded its containership fleet, ordering six 6,150 teu ships at Yangzhou Guoyu Shipbuilding, for $70m each, with options for four more.

The company is moving into the mid-sized boxship segment; its current fleet comprises two 2,800 teu ships, Chang Shun Qian Cheng and Chang Shun Jin Xiu, as well as three bulk carriers. Chang Shun Qian Cheng is chartered to X-Press Feeders, while Safetrans has chartered Chang Shun Jin Xiu.

Furthermore, Shanghai Changshun is awaiting delivery of four 4,800 teu vessels ordered at the same shipbuilder in early 2025, for delivery between this year and 2027. Two of the 4,800 teu vessels have secured charters with CMA CGM and China United Lines.

China Merchants Energy Shipping’s liner operator subsidiary, Sinotrans Container Lines (Sinolines), has finalised its massive boxship newbuilding orders at affiliated shipyards.

Four 8,200 teu ships, costing $422m, will be built at China Merchants Heavy Industry (Jiangsu), four at 3,000 teu, priced at $194m, will be constructed at China Merchants Jinling Shipyard (Nanjing), and four at 1,800 teu, costing $138m, will be built at China Merchants Shipbuilding Qingshan Shipyard.

CMES said the newbuildings will strengthen Sinolines’ capacity, indicating the possibility of diversifying beyond the latter’s core intra-Asia focus.

India-based shipowner Stella Bulk has entered the container segment, ordering a 740 teu pair at Taizhou Maple Leaf Shipbuilding, with options for two more. Stella Bulk is understood to be controlled by Jayalakshmi Sivasankaran, former wife of Indian industrialist Chinnakannan Sivasankaran, who founded the Siva group.

MB Shipbrokers said newbuilding interest continued to appear relatively firm, particularly in the 6,000 teu and 11,000–15,000 teu segments.

The Danish brokerage said: “Asian liner companies still account for the majority of demand, especially for larger LNG dual-fuel tonnage where several sizeable projects remain in the pipeline. Many European liner operators appear to have concluded their newbuilding projects for now.”