Greek Shipping Magnate George Economou-led TMS Group Orders Environmentally Friendly Containerships

Greek shipping magnate George Economou-led TMS Group has ordered up to ten 11,400 TEU environmentally friendly containerships in China. The order includes six firm Neo-Panamax boxships and four options, as revealed by Greek shipbroker Intermodal.

TMS Group will pay $140 million per unit, with a total contract value of $1.4 billion if all options are exercised. The containership fleet will be constructed at Zhoushan Changhong International Shipyard in Zhoushan City, China.

The newbuilds will feature liquefied natural gas (LNG) dual fuel propulsion and are scheduled for delivery between 2027 and 2029. This order follows TMS Group’s recent entry into the container shipping business with the procurement of four methanol-ready 7,900 TEU boxships at HJ Shipbuilding & Construction in South Korea in late 2024.

TMS Group’s Diversified Fleet

TMS Group currently operates a fleet of over 130 ships, including tankers, bulkers, and gas carriers managed by TMS Cardiff Gas, TMS Tankers, TMS Dry, and TMS Bulkers. Additionally, the Greek shipowner has over 40 vessels in its orderbook.

In a related development, TMS Tankers recently took delivery of two new eco-friendly Suezmax tankers, Ipanema and Toska, in December last year. These 159,000 dwt crude oil tankers were constructed at New Times Shipbuilding in China.