The Greek king George Economou plans to order as many as 10 container ships in Chinese shipyards with a total value of about $1.4 billion, Trade Winds sources said.
George Economou began reordering container ships last November after a four-year hiatus. At that time, the shipowner, through his TMS Group, signed a contract with South Korea’s HJ Heavy Industries for four 7,900 TEU environmentally friendly container ships to be delivered from 2026 onwards.The four new vessels will total around $432 million, with a single-vessel price of $108 million.
TMS Group is understood to be in talks with two Chinese shipyards for a series of LNG dual-fuel 11,500 TEU container ships in order to expand its container business. TMS Group is understood to be in talks with two Chinese shipyards for a series of LNG dual-fuel 11,500 TEU container ships in order to expand its container business. The total number of orders is expected to range from six to 10 vessels, with the price of a single vessel expected to exceed $140 million, for a total value of $1.4 billion. The two shipyards are Zhoushan Changhong International and Hengli Heavy Industry.
Brokerage firms said both Changhong International and Hengli Heavy Industry could deliver the new ships by 2028, with both yards currently expanding capacity.
Changhong International has leased sites and facilities in Zhoushan Jinhai Zhizao, which can be used for the construction of container ships; Hengli Heavy Industry’s second-phase project was officially put into production on January 15, and after reaching full production, it can realize an annual processing volume of 2.3 million tons of steel and an annual production of 180 engines.
Changhong International has leased sites and facilities in Jinhai Intelligent Manufacturing, which can be used for the construction of container ships; Hengli Heavy Industry’s second-phase project was officially put into production on January 15, and after reaching full production, it can realize an annual processing volume of 2.3 million tons of steel and an annual production of 180 engines.
George Economou’s shipping companies currently operate over 100 tankers, bulk carriers and gas carriers. George Economou also has about 40 new ships under construction in Chinese and Korean shipyards, including LNG carriers, VLGCs, VLACs, bulk carriers and tankers of various types.