Costamare Tied to Potential 9,200 teu Newbuilding Programme at CSSC

Greek containership owner Costamare is being linked to a newbuilding programme of up to twelve 9,200 teu vessels at yards under China State Shipbuilding Corporation, according to market sources and Alphaliner data — marking a potential return to large-scale contracting for the New York-listed owner. Neither Costamare nor CSSC has confirmed the order, which brokerage sources say is either in advanced negotiations or has been quietly placed. If it proceeds, the deal is widely expected to be backed by long-term charter cover. Alphaliner identifies Cosco Group, including its OOCL unit, as the most likely charterer, though no charter details have been confirmed. The potential deal aligns with Cosco’s broader fleet expansion strategy. In December, the Chinese carrier signed a framework agreement with CSSC for up to 87 vessels worth approximately US$7bn across containerships, bulk carriers, tankers, and other segments. Earlier in January, Cosco confirmed orders for twelve 18,000 teu LNG dual-fuel containerships and six 3,000 teu conventionally powered vessels in a US$2.7bn spending round — its first move into LNG as an alternative marine fuel. For Costamare, the 9,200 teu order would represent a significant step up from its confirmed return to the newbuilding market in mid-2025, when it contracted four 3,100 teu vessels at Zhoushan Changhong International — its first yard orders since five 12,690 teu ships were contracted at Jiangsu Yangzijiang Shipbuilding in 2018. In November, Costamare exercised options for two additional sister ships, bringing the feeder programme to six vessels, all secured with eight-year charters to Ocean Network Express for delivery across 2027 and early 2028. Costamare’s fleet of 69 containerships achieved 100% employment for 2025 and 80% coverage for 2026, supported by US$2.6bn in contracted revenues and an average remaining charter duration of 3.2 years, according to its Q3 2025 results. The company reported that with less than 1% of the global containership fleet commercially idle, charter rates remain healthy across segments. The strategy of securing charter-backed tonnage from non-operating owners allows carriers like Cosco to access capacity without direct capital commitment, while providing shipowners guaranteed employment for new builds. Alphaliner data shows Cosco had 106 containerships totalling roughly 1.38m teu on order prior to the January announcements.