Greek container ship owner Euroseas has expanded its newbuilding programme in China, exercising options for two additional 1,800 TEU feeder containerships at Nantong CIMC Sinopacific Offshore & Engineering, according to Splash247. The vessels, which are gearless, will be delivered in December 2028 and March 2029, respectively, and are priced at about $32.26 million each. The company will finance the ships through a combination of debt and equity.
The latest order follows Euroseas' move in April 2026 to book two identical vessels at the same yard, scheduled for delivery in June and September 2028. The quartet forms part of Euroseas' broader fleet renewal strategy as the owner continues to target the feeder and sub-6,000 TEU containership segments.
Fleet Renewal and Order Backlog
Euroseas currently operates a fleet of 21 vessels and has been one of the most active listed Greek containership owners in the newbuilding market over the past two years, noted Splash247. With the latest option declaration, Euroseas now has 12 vessels on order, ranging from 1,800 TEU to 4,500 TEU. The newbuildings are scheduled for delivery between the third quarter of 2027 and the third quarter of 2029.
| Vessel Size | Yard | Price (each) | Delivery Window |
|---|---|---|---|
| 1,800 TEU | Nantong CIMC Sinopacific | ~$32.26 million | Dec 2028 – Mar 2029 (this order) |
| 1,800 TEU | Nantong CIMC Sinopacific | ~$32.26 million | Jun – Sep 2028 (prior order) |
| 1,800 – 4,500 TEU | Various | Not disclosed | Q3 2027 – Q3 2029 (full backlog) |
Market Context: Feeder Segment Tightness
Aristides Pittas, chairman and chief executive of Euroseas, commented: “These orders reflect our continued commitment to disciplined fleet modernization and renewal. The feeder and sub-6000 teu containership market remains particularly tight. Combined with a low orderbook for this segment and an ageing existing fleet, we continue to see a compelling business case for investing in this vessel category and believe the structural fundamentals remain favorable.”
The company’s focus on the feeder segment aligns with a broader industry trend where smaller container vessels are in relatively short supply, as larger ships dominate the newbuilding orderbook. Euroseas' order underscores confidence in long-term demand for feeder services, particularly in regional and intra-regional trades.
Financial and Delivery Details
Each of the two new feeder vessels carries a price tag of about $32.26 million. Euroseas stated that financing will be arranged through a combination of debt and equity, a typical structure for such transactions. The vessels will be built at Nantong CIMC Sinopacific Offshore & Engineering, a Chinese yard that has been active in the feeder segment.
Shipper and Operator Implications
For freight forwarders and logistics managers, the addition of modern feeder tonnage at Euroseas signals potential capacity relief on secondary routes that rely on these smaller vessels. However, with deliveries not expected until late 2028 and 2029, the immediate impact on current supply constraints is minimal. The company’s commentary about a “tight” feeder market with an “ageing existing fleet” suggests that shippers may continue to face limited availability on feeder loops in the near term.
Operators should note Euroseas' strategy of investing in gearless vessels, which rely on port-side cranes for loading and unloading — a standard configuration for cellular containerships. This may influence terminal compatibility and handling costs for charterers.
Watch List
- Delivery schedule: The two new vessels will not enter service until December 2028 and March 2029, meaning any near-term market tightness in the feeder segment will persist.
- Fleet age: An ageing global feeder fleet (many vessels over 20 years old) could lead to more scrapping or ordering, affecting supply-demand balance.
- Euroseas' remaining options: The company may exercise further options at CIMC Sinopacific or other yards, given its active stance and the favorable fundamentals cited by management.
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