Idan Ofer-controlled Eastern Pacific Shipping (EPS), which has 66 vessels under construction at Far East shipyards, has added a further three 7,000-teu containerships to its tally.
Shipbuilding sources said EPS has placed the newbuildings at China's New Times Shipbuilding for delivery between 2024 and 2025.
The deal lifts to seven the total number of 7,000-teu boxships booked by the company at the yard, at a total cost of $560m. The earlier four newbuildings were inked in June and are due for 2023 and 2024 delivery.
New Times officials were not available for comment as China is closed for the Golden Week holiday. EPS executives declined to comment.
Sources said the trio of boxships are options the company held.
They added that EPS has upgraded the ships' specifications and is paying about $80m each. The vessels will be powered by conventional marine fuels, fitted with scrubbers and be equipped with 1,600 reefer plugs.
EPS is said to have done well on the price.
"Shipbuilding prices [are] very firm due to high steel plate costs and limited berths," said one shipbroker. "Under the current market, shipyards are seeking close to $100m for the same type of boxship that EPS has ordered."
Last month, French liner CMA CGM was reported to have contracted six dual-fuel 7,600-teu newbuildings at Samsung Heavy Industries for $120m each to be delivered between August 2023 and November 2024.
"CMA CGM is paying more for the containerships because they will be able to run on LNG or conventional marine fuels. But the company is also paying a premium price for the early delivery dates."
Meanwhile, boxship experts said EPS has already found employment for five of the seven 7,000-teu New Times newbuildings.
CMA CGM is said to have chartered all five for at least eight years at slightly more than $40,000 per day.
The French liner giant was not available to comment.
CMA CGM is an existing EPS client, having chartered 17 ultra-large boxships of 15,000 teu — five conventional-fuelled ships and 12 dual-fuelled vessels — from the owner.
Hyundai Heavy Industries is building the 17 ships. To date, it has delivered four dual-fuelled vessels and all the five conventionally-fuelled ships. It is slated to deliver the remaining eight by 2022.
According to UK-based VesselsValue, EPS' orderbook is worth close to $8.42bn. The company's newbuildings consist of 13 bulk carriers, 25 containerships, 12 gas carriers, 10 car carriers and nine tankers.
EPS currently has 126 vessels on the water.
