Contships Logistics, a Greek company specializing in maritime transport, has initiated a program to build up to 30 new oil tankers in China. This move, led by Nicholas Patras, the owner of the company, aims to renew its fleet and increase maritime transport capacity.
Details of the Tanker Construction Contract
CLC Newbuildings, which is wholly owned by Contships, has signed a letter of intent with the Hubei Guangji Green Energy shipbuilding group, which includes 10 tankers of 1300 TEU and two sets of 10 additional options. Details regarding pricing and delivery times have yet to be released.
If all options are utilized, this construction program alone will exceed Contships' current fleet, which includes 27 tankers. These tankers will utilize the new ContshipMax CV1300 design developed in collaboration with the Shanghai Shipbuilding Design and Research Institute. The capacity of these vessels is 1324 TEU and they feature 340 refrigerated outlets.
Technical Features and Construction of the Vessels
The mentioned vessels will be equipped with Mitsubishi main engines meeting Tier III standards and low-pressure SCR systems. Additionally, Daihatsu generators and shaft generators, along with a range of energy-saving devices, will be used in these vessels.
The construction of these vessels will take place at the new Guangji factory in Wuxi, located on the Yangtze River. This Chinese manufacturer is collaborating with Shanghai Waigaoqiao Shipbuilding & Offshore Project Management to build these vessels. This contract is considered the largest international order ever recorded by this new government-backed manufacturer.
Reports indicate that the Wuxi factory is developing through an investment of 3.5 billion yuan (approximately 488 million dollars) and includes 10 construction and production bridges with an annual capacity of up to 1 million DWT. Prior to the Contships contract, the foreign order book of this factory had reached over 4 billion yuan (562 million dollars).
For Contships, this new construction initiative comes after significant sales from its old fleet. The company sold 15 vessels in 2025 and another five in the first half of 2026, generating revenue of 59 million dollars from these sales. By the end of June, the company's fleet consisted of 27 vessels.
The company has also selectively operated in the strong second-hand vessel market. In 2025, the company spent 72 million dollars to purchase five vessels, including two 2000 TEU vessels and three vessels around 1300 TEU. Meanwhile, the company continues to sell its older units.
Contships entered the second half of this year with 249 million dollars in liquidity and time deposits, along with a backlog of contractual revenues worth 240.7 million dollars. The company's charter book includes collaborations with liner operators such as CMA CGM, ZIM, COSCO, X-Press Feeders, and Unifeeder.
