Splash247: Minerva scales up boxship bet with Hengli quartet

Published by Splash247

Greek owner Minerva Dry has moved into larger containerships with an order for four 6,000 teu newbuildings at China’s Hengli Heavy Industries.

Shipbroking sources place the conventionally fuelled quartet at the Dalian yard for delivery in 2028. No price has been disclosed, but comparable ships are being quoted at around $80m each, putting the latest deal at roughly $320m.

The order marks another step up in size for the Andreas Martinos-led owner, whose existing containerships range from about 1,760 teu to 2,400 teu.

Minerva currently operates close to 10 boxships and already has five 3,100 teu vessels and four 1,800 teu feeders under construction at three Chinese yards. The Hengli deal takes the company’s containership orderbook to 13 vessels.

The group entered the container sector in 2023 and has since built up a modern secondhand fleet. Together with the earlier feeder orders and the latest Hengli quartet, Minerva’s investment in the segment is approaching $1bn.

Hengli is already building aframax, LR2 and suezmax tankers for the wider Minerva group.

In a separate move, Eastern Pacific Shipping has been linked to seven more 6,000 teu ships at Hengli. Chinese industry reports said the additional vessels would take the Singapore-based owner’s series at the yard to 15, with deliveries expected by 2028.