Capital Maritime Expands Fleet with New Shipbuilding Contracts in China
Greek shipowner Evangelos Marinakis is advancing his ambitious shipbuilding strategy as Capital Maritime has secured a significant newbuilding deal in China. The Athens-based shipping group has signed contracts for the construction of two Very Large Crude Carriers (VLCCs) and four Capesize bulk carriers. While specific delivery timelines and pricing details remain undisclosed, the total estimated value of the deal is approximately $540 million. This latest order underscores Capital Maritime’s commitment to expanding its fleet with modern, large-tonnage vessels across various segments.
The new contracts add to Capital Maritime’s already extensive pipeline, which includes tankers, gas carriers, and containerships. This diversification highlights the company’s ongoing appetite for large, contemporary vessels, positioning it as one of the most active Greek owners in the newbuilding market. The strategic move is aimed at refreshing and growing its fleet in anticipation of increasing demand in both energy and dry bulk trades.
Hengli Heavy Industry’s Growing Portfolio
Hengli Heavy Industry, the shipbuilder behind these contracts, has confirmed that it has secured a total of seven newbuilding contracts as part of its 2025 contracting initiative. This includes the two VLCCs and four Capesize bulk carriers for Capital Maritime, as well as a Suezmax tanker for a Norwegian owner. The shipyard recently celebrated a significant milestone by launching four 306,000 dwt VLCCs simultaneously, marking a first for both Hengli Heavy Industry and the global shipbuilding sector since the yard commenced full operations.
With these new contracts, Hengli Heavy Industry has reached a total of 115 vessels contracted for 2025, with an aggregate value exceeding RMB 100 billion (approximately $14.3 billion). This achievement reflects the shipyard’s rapid expansion and robust performance in the competitive shipbuilding market. The addition of the Norwegian Suezmax order further diversifies Hengli’s customer base and builds on previous contracts for LNG dual-fuel Suezmax tankers, emphasizing the shipbuilder’s focus on higher-end tanker segments.
Capital Maritime’s Strategic Positioning
For Capital Maritime, this latest order reinforces its strategic positioning within the maritime industry. The company is actively working to modernize its fleet, ensuring it remains competitive in a rapidly evolving market. The decision to invest in new vessels aligns with the anticipated long-term demand for shipping services in both the energy and dry bulk sectors. As the global economy continues to recover, the need for efficient and modern shipping solutions is expected to grow, making Capital Maritime’s proactive approach to fleet expansion a timely and strategic move.
Eastern Pacific Shipping Expands Fleet with New Capesize Order
In summary, the recent contracts signed by Capital Maritime with Hengli Heavy Industry not only signify a substantial investment in new vessels but also reflect the ongoing trends in the maritime industry towards modernization and diversification. As both companies continue to push forward with their respective goals, the implications for the shipping market could be significant in the coming years.
