Contships Logistics Corp., owned by Nikolas D. Pateras, is in the process of renewing its fleet.
The company, which is the largest private feeder containership manager, successfully issued a five-year corporate bond worth 100 million dollars a few months ago.
The company has contracted revenues of 227 million, while for the first half of 2025 the average net daily freight rate per vessel (after commissions) for the first half was 13,490, with total revenue of 97.1 million. The company estimates that for the second half of the year the corresponding net freight rate per vessel will increase to 15,100.
During the first half of 2025, it completed the sale of six feeder container vessels: M/V Contship Air, M/V Contship Leo, M/V Contship Med, M/V Contship Win, M/V Contship Fun and M/V Contship Gem were delivered to their new owners. Total proceeds from these six sales, before commissions and other selling expenses, amounted to 50.2 million dollars.
It also signed three additional memoranda of understanding for the sale of three more container ships: M/V Contship Sun, M/V Contship Key and M/V Contship Lex. The sales of M/V Contship Sun and M/V Contship Key were completed in July 2025, generating total proceeds (before commissions and selling expenses) of 17.9 million. M/V Contship Lex is expected to be delivered to its new owners in September 2025, with projected proceeds (before commissions and selling expenses) of 10.7 million dollars.
In the six-month period ending 30 June 2025, the Group completed the acquisition of two 2,000 TEU vessels and three 1,300 TEU vessels, for a total acquisition cost – including upfront costs – of 71.9 million dollars. Two of the vessels were delivered in May and the remaining three in June 2025.
On average, the Group owned and operated 40.4 vessels during the first half of 2025, while as of 30 June 2025 the fleet numbered 41 vessels. Following the completion of all recent transactions, the fleet will comprise 38 vessels.
