|
Getting your Trinity Audio player ready...
|
Minerva Expands Boxship Fleet with New 3,000 TEU Order in China
Greek shipowner Minerva Dry is stepping up its presence in the global sea freight and container shipping market, placing an order for three 3,000 TEU containerships at a Chinese shipyard — its largest boxship order to date. The move underscores Minerva’s continued diversification from dry bulk into container shipping as part of a broader strategy to strengthen its position in regional and feeder trades.
Minerva’s New Order: Larger Ships, Bigger Ambitions
Shipbuilding insiders confirm that the Andreas Martinos-led Minerva Dry has signed a deal with Penglai Zhongbai Jinglu Ship Industry for three new 3,000 TEU vessels, with deliveries scheduled between 2027 and 2028.
Brokers estimate the contract value at around $45 million per ship, noting that these slots were initially reserved by Songa Box, a company backed by Norwegian owner Arne Blystad. Following the collapse of those talks, Minerva secured the build positions, marking a key expansion milestone in its container strategy.
Meanwhile, Songa Box has reportedly signed a letter of intent with Taizhou Sanfu Ship Engineering for two firm plus two optional vessels of a similar size, showing continued demand for mid-size container vessels in Asian shipyards.
Scaling Up Minerva’s Sea Freight Capabilities
The newbuilds represent a significant step up from Minerva’s earlier focus on smaller feeder containerships. The company already holds orders for four 1,800 TEU ships at Yangzijiang Shipbuilding and Huanghai Shipbuilding, with deliveries running through 2027–2028.
By moving into the 3,000 TEU segment, Minerva aims to capture a greater share of intra-Asian and regional sea freight routes, where demand remains steady for flexible, medium-sized vessels capable of serving secondary ports.
Diversification Beyond Dry Bulk
Minerva Dry — part of the larger Minerva Marine Group — began expanding beyond its dry bulk roots in 2022, investing heavily in the container segment. The company has spent more than $250 million on secondhand containership acquisitions, securing eight modern vessels in the 1,780–2,430 TEU range.
The latest order confirms Minerva’s long-term commitment to the boxship market, positioning it among a growing number of traditional bulk and tanker owners entering the containerized sea freight sector in search of stable returns and consistent charter demand.
Market Context and Industry Outlook
The 3,000 TEU class has become increasingly attractive to shipowners due to its operational flexibility, lower fuel consumption, and compatibility with regional sea freight trade lanes. As larger mainline carriers focus on 10,000+ TEU vessels, the mid-size boxship segment has gained importance for maintaining service reliability and port connectivity.
Analysts note that Minerva’s entry into this segment demonstrates confidence in the resilience of regional container markets, which continue to outperform long-haul routes in terms of utilization and freight stability.
