Alpha Bulkers, the shipping group of Anna Angelicoussis, is making a dynamic opening in the containership market.
The dry cargo arm of the group, which is also active in tankers with Pantheon and in LNG carriers, with Alpha Gas, has signed agreements with three Chinese groups for the construction of 11 containerships, with a carrying capacity of 1,900, 3,100 and 4,500 TEUs.
Specifically, the company, which manages a fleet of 34 bulk carriers, will build three of the 1,900 TEUs at Chang Bo Shipyard, four of the 3,100 TEUs at COSCO Shipping Heavy Industry Guangdong, and another of the 4,500 TEUs at Yantai CIMC Raffles.
With these three agreements and a total of eleven new vessels, Alpha Bulkers joins the club of Greek shipowners that are now expanding into containers and especially small capacities.
As reported by Alphaliner analysts, prices have not been made public, but the freight market estimates that the Chinese “standard” capacity with conventional propulsion costs about 30 million for a Bangkokmax 1,900 TEUs, about 45 million for a 3,100 TEUs and about 57 to 59 million for a 4,500 TEUs ship.
According to analysts, the feeder segment (2,000-5,000 TEUs) is the most active and the most limited in terms of supply in the containership market.
In the 2,800 TEUs category, freight rates amount to 23,000 to 24,000 dollars per day, while in capacities of 4,200-5,000 TEUs, over 28,000 dollars per day.
At the same time, the percentage of the fleet that is currently inactive is below 1% and charterers are pushing to have available capacity 12 to 36 months in advance.
“While the large ship market is facing severe oversupply, due to the high orderbook, which in some categories reaches 40% of the existing fleet, the feeder sector maintains an extremely limited growth, with the orderbook corresponding to only 5% of the fleet.
This ‘disciplined’ attitude to new orders ensures a more balanced supply and demand relationship,” Intermodal pointed out in a recent analysis, while adding that the aging of the fleet creates a need for renewal, as more than a quarter of the ships are over 20 years old, which is expected to lead to increased scrapping in the next two years.
With the fleet forecast to shrink by around 1.3% by 2026, tight supply is further supporting freight rates.
Shipping companies see feeders as an opportunity for stable returns, limited risk and growing strategic importance in a market seeking balance after the excessive growth cycle of large ships.
The company, which has a fleet of 34 bulk carriers, returns to the shipyards after 2023 and the order of two bulk carriers at the Cosco Shipping Heavy Industry Zhoushan shipyards, for approximately 64 million dollars in total.
In August, it also delivered “Alpha Legend” and “Alpha Spirit” with a capacity of 63,600 dwt.
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