Eastern Pacific Shipping (EPS), owned by Israeli shipping magnate Idan Ofer, is accelerating its feeder container ship expansion plan, with 18 new ships added to its order book.
According to multiple sources including TradeWinds, EPS has ordered 12 1800TEU feeder container ships with options for another six from Mawei Shipyard, a subsidiary of Fujian Shipbuilding Industry Group Corporation (Fujian Shipbuilding), with a total value of up to approximately US$680 million. Each ship is expected to cost up to approximately US$37.7 million and will be delivered between the end of 2027 and 2028.
Industry insiders noted that up to 18 new ships have signed long-term charter agreements with French shipping giant CMA CGM, so these are not speculative orders. CMA CGM is known for leasing EPS container ships.
It is worth noting that EPS has previously signed a contract with China’s China Merchants Jinling Shipyard for six 1,800 TEU feeder container ships, each costing approximately US$30 million, with delivery scheduled for 2027 and 2028, for a total value of US$180 million. The new ships will use conventional fuel. This is also the first time in four years that the shipowner has placed an order for feeder container ships.
With this order from Mawei Shipbuilding, EPS has recently invested as much as US$860 million to order 24 1,800 TEU feeder container ships, indicating that the shipowner is strategically entering the feeder container ship market, joining the growing ranks of shipowners adopting modern feeder container ship designs, while regional trade demand remains stable.
EPS has a diversified fleet of over 200 ships, including tankers, container ships, car carriers, bulk carriers, and gas carriers.
The latest orders for EPS further highlight the active state of the newbuild market for container ships, covering a wide range of ship sizes from feeder container ships to ultra-large container ships of 22,000 TEU.
Based on recent order trends, new container ship orders are focused on the medium-sized and small-sized markets, with multiple shipowners competing to place orders. In this wave of medium-sized and small-sized container ship orders, Chinese shipyards have become the preferred choice for shipowners.
Including intention orders and the 18 new ships recently announced by EPS, nearly 40 container ships have been announced in August, all of which were undertaken by Chinese shipyards, including Huangpu Wenchong Shipbuilding, Huanghai Shipbuilding, Zhoushan Changhong International Shipyard, China Merchants Industry Qingdao Shipyard, etc.
As the small and medium-sized market continues to be hot, ship broker MB Shipbrokers further pointed out in a recent report: “Shipowners are quickly locking up the remaining shipping slots in 2028, and more news is expected to be announced in late August.”
It was previously reported that Mediterranean Shipping Company (MSC) and CMA CGM are also considering building container ships ranging from 1,000 TEU to 6,000 TEU. If the shipbuilding plans of the two shipping giants are successfully implemented, Chinese shipbuilders will become strong competitors for these large orders.