|
Getting your Trinity Audio player ready...
|
Greek Owner Strengthens Position in Mid-Sized Sea Freight Segment
Greek shipowner Costamare Inc. has expanded its newbuilding programme in China, ordering two additional 3,100 TEU containerships that bring its total series to six vessels.
The New York–listed company confirmed the deal in its Q3 earnings report, highlighting its growing confidence in the long-term strength of the sea freight and boxship charter market.
The new vessels will be delivered in the first quarter of 2028 from an undisclosed Chinese shipyard and will immediately commence eight-year time charters with a major global liner operator — reflecting the ongoing appetite for fuel-efficient, mid-size tonnage amid tight charter availability.
Strategic Return to the Newbuilding Market
Costamare’s latest move marks a continued and deliberate re-entry into the newbuilding sector after several years of focusing on asset management and dry bulk diversification.
The company placed its first fresh orders earlier this year — the first since 2018 — signalling renewed optimism for long-term stability in containerised sea freight trades.
With this latest expansion, Costamare now has six 3,100 TEU newbuildings under construction, all backed by long-term charter cover — an approach that helps shield earnings from spot market volatility while ensuring high fleet utilisation.
Fleet Development and Market Outlook
Costamare’s existing fleet includes 69 containerships, totalling around 520,000 TEU, excluding the newbuildings.
The group has also diversified into dry bulk shipping, spinning off its bulker division earlier this year under Costamare Bulkers — a subsidiary that operates nearly 40 owned vessels and another 50 chartered-in ships via the Costamare Bulkers Inc. (CBI) platform.
The company’s management said that balancing between container shipping and bulk freight operations allows it to optimise exposure across multiple shipping cycles, especially as global sea freight demand remains resilient despite trade disruptions.
Analyst Perspective
Industry observers view Costamare’s new orders as a sign of renewed momentum in the mid-size boxship sector, particularly for vessels between 2,800 and 3,500 TEU — a niche that continues to see strong charter demand on intra-Asia and Mediterranean trades.
With eco-efficient designs, competitive build pricing in China, and long-term charter coverage, the move is seen as both a defensive and strategic expansion by one of Greece’s most disciplined containership owners.
