Eastern Pacific Shipping (EPS), owned by Israeli shipping tycoon Idan Ofer, has returned to the container shipbuilding market and placed a batch of new ships with a Chinese shipyard. This is also the second order the shipowner has placed with a Chinese shipyard recently.
EPS has signed an order with China Merchants Jinling Shipyard for six 1,800 TEU feeder container ships, according to TradeWinds. Each ship will cost approximately US$30 million and is scheduled for delivery in 2027 and 2028, with a total order value of US$180 million. The new ships will use conventional fuel.
As one of the largest shipowners in terms of order volume in the industry, EPS last placed an order for container ships in September 2024, when it placed a batch order for multiple container ships with New Times Shipbuilding. It is reported that EPS has 12 18,000 TEU and 4 8,400 TEU LNG dual-fuel container ships under construction at New Times Shipbuilding, with delivery scheduled until 2028.
This order for six 1,800 TEU container ships marks EPS as one of a growing number of feeder container ship owners, and is also the first order for feeder container ships placed by this shipowner in four years. In addition, Greek shipowners Latsco, Alberta Shipmanagement, and Chios Navigation are also actively promoting feeder container ship projects and have signed multiple contracts with Chinese shipyards.
Shipbroker MB Shipbrokers noted in a recent report: “Despite delivery times of up to three years or more for feeder container ships, ordering momentum in the container sector remains strong. Order activity remained brisk in the third quarter of this year.”
This container ship order comes right after EPS confirmed its return to the tanker sector. Not long ago, EPS signed a contract with Hengli Heavy Industries for 2+2 157,000 DWT liquefied natural gas (LNG) dual-fuel Suezmax tankers. This order broke the shipowner’s 18-month Suezmax tanker order drought. The cost of a single ship is nearly US$90 million and is expected to be delivered between the end of 2027 and 2028.
It is understood that EPS has a diversified fleet of over 200 ships, including oil tankers, container ships, car carriers, bulk carriers and gas carriers.