Conbulk breaks into boxship newbuild market

Conbulk breaks into boxship newbuild market

Greek shipping company Conbulk has made a strategic move into the container ship newbuilding market, marking a new phase in its growth strategy. The Piraeus-based owner, led by Dimitris Dalakouras, has placed an order for two 5,000 TEU boxships at Yangzhou Guoyu Shipbuilding in China — a yard recently revitalized after restructuring.

The vessels are scheduled for delivery by late 2027, according to shipbroking reports. While the contract price has not been officially disclosed, brokers estimate similar mid-size newbuilds in China at around $60 million each.

Shift from Secondhand to Newbuild Strategy

This order represents a notable shift for Conbulk, which until now has primarily expanded through secondhand ship acquisitions. The company currently operates 34 vessels, mostly feeder containerships and bulk carriers. Earlier this year, it purchased the 3,450 TEU Adelie P from Celsius Shipping, reflecting its preference for modern yet cost-effective tonnage.

Yangzhou Guoyu’s Comeback

Yangzhou Guoyu Shipbuilding, reorganized after bankruptcy in 2021, is quickly becoming a favorite destination for foreign shipowners seeking competitive pricing and flexible terms. In September, Chartworld Shipping, owned by Greece’s Kollakis family, signed a letter of intent for up to eight 3,100 TEU ships at the same yard.

Container Newbuilding Demand Stays Strong

Despite mild corrections in prices for larger tonnage, demand for mid-size and feeder boxships remains robust. According to MB Shipbrokers, a major European liner — believed to be Hapag-Lloyd — is also preparing to place orders for methanol dual-fuel ships in the 3,500–4,500 TEU range.

Market analysts note that competition among smaller and non-traditional shipyards in China is helping to stabilize pricing while keeping the orderbook pipeline active. For Conbulk, the move represents a strategic step toward fleet modernization and entry into a more sustainable and efficient sea freight segment.