Navios Maritime Partners, led by Angeliki Frangou, has connected to four new container ships in South Korea. This agreement, valued at approximately $500 million, includes the construction of four ships at HJ Shipbuilding & Construction (HJSC).
Contract Details
HJSC has announced that this contract has been signed with an undisclosed owner based in the Pacific, with a value of about 679 billion South Korean won (equivalent to $500 million). The execution period of this contract will be from September 21, 2026, to April 30, 2029. The exact specifications for the capacity and type of propulsion of these ships have not yet been disclosed, but market and shipbuilding sources have identified Navios as the buyer, indicating that the contract pricing reflects ships with a capacity of approximately 10,100 TEU.
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Continuous Development of Navios
This new contract allows Navios to enter a larger class of ships. Navios has previously been recognized as a repeat customer at this yard and has already constructed a series of 7,900 TEU ships capable of using methanol and equipped with purification devices. Additionally, four more 8,850 TEU ships are currently under construction at the same yard.
The first 7,900 TEU unit, Navios Cyan, was delivered earlier this year. The latest information from Navios indicates that three more ships of that size and four additional 8,850 TEU ships are still being completed by the first half of 2028.
HJSC has also challenged the physical limits of the Yeongdo yard with its new design of 10,100 TEU. Earlier this year, D. Oltmann Reederei from Bremen was identified as the buyer of four similar ships ordered in two pairs for delivery between April and October 2028.
Navios has continued its development across various sectors in 2026. The company's August portfolio includes 29 new ships in its production line, comprising three Cape-class ships, seven container ships, and 19 tankers. Additionally, the company's contracted revenue is estimated to be around $4.4 billion. If the recent attribution to HJSC is confirmed, four new ships will be added to this new construction program.
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