Capital Maritime Expands Fleet with Newbuilding Contracts in China
Greek shipowner Evangelos Marinakis is advancing his shipbuilding ambitions through Capital Maritime, which has recently secured a significant newbuilding contract in China. The Athens-based shipping group has signed agreements for the construction of two Very Large Crude Carriers (VLCCs) and four Capesize bulk carriers. While specific delivery dates and pricing details remain undisclosed, industry estimates place the total value of the deal at approximately $540 million.
This latest order adds to Capital Maritime’s already extensive newbuilding pipeline, which includes a diverse range of vessels such as tankers, gas carriers, and containerships. The company’s ongoing commitment to acquiring large, modern tonnage across various segments highlights its strategic focus on meeting anticipated long-term demand in both energy and dry bulk markets.
Hengli Heavy Industry’s Growing Portfolio
Hengli Heavy Industry, the shipbuilder responsible for these new contracts, has confirmed that it has secured a total of seven newbuilding orders 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 recent contracts signify a robust expansion for Hengli, which has marked a milestone in the shipbuilding industry by launching four 306,000 dwt VLCCs simultaneously earlier this year. This achievement is notable as it represents the first time Hengli has reached such a milestone since commencing full operations.
With these new contracts, Hengli Heavy Industry has reported a total of 115 vessels contracted for delivery by 2025, with an aggregate value exceeding RMB 100 billion (approximately $14.3 billion). This impressive figure underscores the shipyard’s rapid growth and its increasing prominence in the global shipbuilding market. The recent Suezmax order further diversifies Hengli’s customer base and builds on previous contracts for LNG dual-fuel Suezmax tankers, reflecting the yard’s strategic push into higher-end tanker segments.
Capital Maritime’s Strategic Positioning
For Capital Maritime, this new order reinforces its status as one of the most active Greek owners in the newbuilding sector. The company is focused on refreshing and expanding its fleet to align with projected demand in the energy and dry bulk trades. As the maritime industry continues to evolve, Capital Maritime’s proactive approach to fleet modernization positions it well to capitalize on future opportunities.
The combination of Capital Maritime’s ambitious expansion plans and Hengli Heavy Industry’s growing capabilities illustrates a dynamic shift in the shipbuilding landscape. As both companies navigate the complexities of the maritime market, their recent agreements signal a commitment to innovation and growth in a competitive industry.
