Diversified shipping company Zodiac Maritime has recently re-entered the newbuild market, confirming orders for five 6,000 TEU container vessels at China Merchants Jinling Shipyard (Nanjing) (CMJL (Nanjing)). The total order value approaches $400 million, with each vessel costing between $78 million and $79 million.
This order, spearheaded by Zodiac Maritime Chairman Eyal Ofer, features conventional fuel-powered vessels with a clear delivery schedule. Deliveries are expected to begin in batches in 2028, with some vessels potentially delayed until 2029 due to shipyard schedules and specific specifications, consistent with the timeline previously disclosed by brokers.
Opinions vary within the industry regarding the nature of this order: some sources believe it is a speculative order, while others suggest it has secured long-term charters. Shipping consultancy Alphaliner suggests the new vessels may be part of a partnership with China Ocean Shipping Group, but this speculation has yet to be officially confirmed.
Notably, the design of these 6,000 TEU container vessels is believed to be similar to the four vessels of the same class ordered earlier this year by Idan Ofer’s Eastern Pacific Shipping at the same shipyard. This detail also reflects the growing acceptance of this ship type in the mid-size container vessel market.
From Zodiac Maritime’s shipbuilding portfolio, this new order continues its momentum in investing in large newbuilds. As early as 2021-2022, the company placed a bulk order for 15,000 TEU large container vessels with Hanwha Ocean in South Korea. These vessels were subsequently fully delivered to Mediterranean Shipping Company (MSC), the world’s largest container shipping company. In mid-September this year, Zodiac Maritime completed the delivery of the final vessel from its 2021 order of 10 car carriers at CIMC Raffles Shipyard in Yantai, marking the official conclusion of its previous RMB 7.1 billion expansion plan.
Industry analysts believe that with the addition of five new 6,000 TEU vessels, Zodiac Maritime’s operational resilience will be further enhanced amid cyclical fluctuations in the shipping market. In the future, Zodiac Maritime may provide efficient and flexible capacity supplements to global liner companies through long-term charter contracts.
This order also sends a clear signal: amid ongoing market uncertainty, large shipowners are gradually shifting their investment focus to the mid-sized vessel sector, which has stronger fundamentals.