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Demand for containerships rises – What do Greeks buy

The significant increase in freight rates is rekindling the investment interest in shipping

Demand for container ships is on the rise lately based on the number of deals on the secondary market and in shipyards.

The significant increase in freight rates, as a result of the crisis in the Red Sea, is rekindling the investment interest in shipping.

The Greek shipping companies are also quite active, which generally prefer second-hand ships, of the feeder type.

In terms of shipbuilding, the most recent order from a Greek company was placed at the end of June by Navios Maritime Partners. The shipping giant signed an agreement with the South Korean shipyard HJ Shipbuilding & Construction for the construction of two containerships, with a capacity of 6,900 TEUs each, with a scheduled delivery time of 2026.

These are ships equipped with advanced technological features, which after conversions will be able to burn methanol (methanol ready).

Second hand vessels

In the field of second-hand vessels, shipping sources have recently linked Chartworld with the purchase of the Hansa Wolfsburg (capacity 1,700 TEUs and built in 2007), for approximately 14.2 million dollars.

Last week, shipping brokers connected the Greek shipping company with the acquisition of the modern Vega Daytona (capacity 1,868 TEUs and built in 2023), but shipping sources noted to “Naftemporiki” that this is incorrect information and the vessel ended up in Chinese interests.

Recent buyers include Contships Management, which acquired Warnow Mate (1,496 TEUs capacity and built 2010).

Erasmus Shipinvest Group, the company founded in 2010 by Chinese interests and based in Vouliagmeni, recently delivered the Erasmus Leo (capacity 1,891 TEUs and built in 2013). This is the former Starship Leo, which – according to shipping sources – was reportedly sold during this year, for 16 million dollars.

Shipping company Braemar said the ship has already been chartered to Danish liner Maersk for 15,500 dollars a day in a deal of up to six months.

Also, Element Shipmanagement was enhanced in the last few days with the LM Ares (capacity 1,341 TEUs and built in 2006).

Shipping sources say the vessel – previously known as the Algol – has a one-year charter.