Backed by long-term charter agreements, Greek container shipping company Costamare, led by Konstantinos Konstantakopoulos, has increased its order backlog at Chinese shipyards while expanding its active fleet through second-hand vessel acquisitions.
In the third quarter of 2025, Costamare returned to the newbuild market after several years and placed an order for four 3,100 TEU container vessels at a Chinese shipyard. Shipbrokers later confirmed the yard as Zhoushan Changhong International.
According to Greek media outlet Riviera, Costamare disclosed in its third-quarter earnings report that it has placed an additional order for two 3,100 TEU container vessels with Zhoushan Changhong International, bringing the total number of vessels under construction with the shipyard to six.
The two newly ordered vessels are options that took effect this September and are expected to be delivered in the first quarter of 2028. The first four vessels are scheduled for delivery between the second and fourth quarters of 2027. All six newbuildings have been chartered to Leading Container Shipping Company under eight-year time charter agreements.
Notably, this shipbuilding collaboration with Zhoushan Changhong International marks Costamare’s return to the newbuild market after several years of absence. The company had previously planned to implement a newbuilding program in 2021 by agreeing to order six large vessels from an undisclosed Asian shipyard. However, that deal was terminated months later, and the company has not placed new orders for container vessels or bulk carriers since.
Earlier this year, Costamare spun off its dry bulk operations into an independent listed company, Costamare Bulkers. Its bulk carrier fleet comprises nearly 40 owned vessels and approximately 50 chartered dry bulk carriers operated through its CBI platform.
Separately, Costamare has acquired the 6,541 TEU container vessel Maersk Puelo, built in 2006. The vessel is currently chartered to Maersk for operation until October 2026. With this addition, Costamare now operates a fleet of 69 container vessels with a total capacity of approximately 520,000 TEU. Additionally, six newbuilds are under construction, adding 18,600 TEU to its fleet capacity.