Contships Logistics has signed a letter of intent for up to 30 feeder newbuildings in China, an order that — if all options are exercised — would exceed the Greek owner's entire existing fleet of 27 vessels.

Wholly owned subsidiary CLC Newbuildings signed the LOI with Hubei Guangji Green Energy Shipbuilding Group covering 10 firm 1,300 teu containerships plus two sets of 10 options. Pricing and delivery dates remain undisclosed. The deal marks the biggest international order yet landed by the state-backed Chinese newcomer.

The ships will use the new ContshipMax CV1300 design, developed with Shanghai Merchant Ship Design and Research Institute (SDARI). Despite the nominal class name, capacity is listed at 1,324 teu, including 340 reefer plugs — a configuration that positions the tonnage squarely in the segment where charter demand from liner operators has been strongest.

The conventionally fuelled vessels will feature Tier III Mitsubishi main engines, low-pressure SCR systems, Daihatsu generators, shaft generators and a package of energy-saving devices. For a feeder operator chartering to lines running emissions-compliance scrutiny in Europe and elsewhere, the Tier III notation and SCR kit matter commercially: they extend employability across regulatory regimes that older tonnage struggles to serve.

Construction will take place at Guangji's recently commissioned yard at Wuxue on the Yangtze River, with the Chinese builder working in partnership with Shanghai Waigaoqiao Shipbuilding & Offshore Project Management.

Guangji's export push gathers pace

The Contships order caps a rapid run of international business for Guangji. Dubai-based Emarat Maritime started the sequence with three firm 930 teu feeders plus three options, before Arne Blystad-backed Songa Box booked two 1,300 teu ships with another four optional vessels in July. Singapore's Wealth Holdings followed with a 2+2+2 deal for 25,000 dwt multipurpose ships, while French liner Marfret added two 480 teu feeders last month.

The Wuxue yard is being developed through an RMB3.5bn ($488m) investment, with 10 building slipways and planned annual output of up to 1m dwt. Before the Contships deal, its overseas orderbook had already topped RMB4bn ($562m), according to Chinese industry reports.

For a state-backed entrant, landing a 30-ship programme from an established Greek feeder player signals more than orderbook volume. It gives the yard a reference customer with a repeat ordering pattern — and gives Contships early slots at a yard likely to price aggressively as it builds an export track record.

Fleet renewal, funded by disposals

The Nikolas Pateras-led owner arrives at the newbuilding table after a substantial clear-out of older feeder tonnage. The company sold 15 ships during 2025 and another five in the first half of 2026, with this year's disposals bringing in $59m. The fleet stood at 27 vessels at the end of June.

Contships has used the strong secondhand market on both sides of the trade. In 2025 it also spent $72m acquiring five feeders — two 2,000 teu ships and three around 1,300 teu — while continuing to dispose of older units. The pattern is classic fleet arbitrage: sell aged units into a liquid S&P market, recycle proceeds into modern tonnage, and shift the age profile down without ballooning capital committed to used ships near the top of the cycle.

The balance sheet supports the newbuilding programme. Contships entered the second half of this year with $249m in cash and time deposits and a contracted revenue backlog of $240.7m. Its charter book includes employment with liner operators including CMA CGM, ZIM, COSCO, X-Press Feeders and Unifeeder — a blue-chip charterer list that underpins the revenue visibility a 30-ship order requires.

What it means for the market

For feeder charter rates, a 30-ship injection of modern 1,324 teu tonnage with heavy reefer intake will eventually test the segment's absorption capacity, depending on delivery timing and how many options Contships actually exercises. For lines like X-Press Feeders and Unifeeder, more Tier III-compliant feeder supply means wider choice at the smaller end of the fleet spectrum. For competing owners, the order signals confidence that the feeder segment's earnings run has legs long enough to justify fresh steel.

The open variables are price and schedule. Guangji's untested delivery record on export contracts — and Shanghai Waigaoqiao's project-management role in de-risking it — will determine whether the LOI converts into firm contracts across all 30 hulls. With Contships holding options on 20 of them, the programme can scale with how the feeder charter market performs over the construction cycle.