Nikolas D. Pateras-led Contships Logistics Corp. has a positive outlook for the feeder containership size segment, despite the challenges ahead. The owner of container feeder vessels said the feeder size segment, which is the containership size segment in which the Group operates, “continues to benefit from its essential role in maintaining regional connectivity” and “facilitating the first and last mile of the global logistics supply chain.”
The company outlined several factors for the positive outlook of the segment. The anticipated intra-regional trade growth of approximately 3% per annum, is expected to continue driving demand for feeder services, the shipowner said.
Furthermore, the combination of an aging fleet and limited newbuilding activity is expected to constrain vessel supply in the feeder segment. Notably, the orderbook for vessels below 3,000 teu represents less than 5% of the total fleet, both in terms of vessel count and teu capacity.
The increased transshipment activity and the establishment of new regional routes, particularly as alternatives to disrupted mainlane trades, may further support demand for feedering services, contributing to sustained high utilization rates and potentially elevated charter rates.
The shipowner embarked on a buying and purchasing spree this year as part of the group’s fleet renewal strategy.
Contships Logistics Corp. completed the disposal of six container feeder vessels and entered into three additional memoranda of agreement to sell three container vessels during this year.
The owner of container feeder vessels also completed the acquisitions of two 2,000 teu vessels and three 1,300 teu vessels at an aggregate acquisition cost of $71.9m.
Fleet Composition
▪ The group completed, during the first six months of the year, the disposal of six container feeder vessels, Contship Air, Contship Leo, Contship Med, Contship Win, Contship Fun and Contship Gem. The aggregate proceeds from the six vessel sales, before any commissions and sale related costs, were $50.2m. The owner said the vessels were delivered to their new owners.
▪ At that period, the group entered into three additional memoranda of agreement to sell three container vessels, Contship Sun, Contship Key and Contship Lex. The disposals of Contship Sun and Contship Key were completed in July 2025, the aggregate proceeds of which, before any commissions and sale related costs, were $17.9m. The Contship Lex is expected to be delivered to its new owners in September 2025, the proceeds of which, before any commissions and sale related costs, are expected to be $10.7m.
▪ The group also completed the acquisitions -during the first six months- of two 2,000 teu vessels and three 1,300 teu vessels at an aggregate acquisition cost, including preliminary expenses, of $71.9m. Two of the vessels were delivered in May 2025 and three vessels were delivered in June 2025. Each of the five vessel acquisitions was financed using cash on hand, and the vessels remain unencumbered.
▪ An average of 40.4 vessels were owned and operated by the group during the first six months of 2025, whereas as of June 30, 2025, the group owned 41 vessels. Following the completion of all recent transactions, the group will own and operate 38 vessels.
Fleet Employment
▪ In terms of time charter contract arrangements, the group recently concluded the following fixtures:
➢ Contship Vow fixed to Unifeeder at $15,950/day on a 12-14 month time charter.
➢ Contship New fixed to MSC at $15,000/day on a 23-24 month time charter.
➢ CMA CGM declared its option to extend Contship Uno at $13,500/day in direct continuation for a further 3-6 months.
▪ In terms of time charter contract arrangements, for the vessels delivered to the group during the six months ended June 30, 2025, the following time charters were in place at the date of each vessel’s delivery:
➢ Contship Max II fixed to King Ocean at $11,000/day for a remaining period of 9-12 months.
➢ Contship Rex II fixed to CMA CGM at $13,500/day for a remaining period of 8-9 months.
➢ Contship Eve II fixed to CFS at $17,650/day for a remaining period of 8-10 months.
➢ Contship Pep II fixed to COSCO at $23,600/day for a remaining period of 22-24 months.
➢ Contship Ana II fixed to MSC at $23,500/day for a remaining period of 22-24 months.
▪ As of July 1, 2025, and as adjusted to incorporate all recent fixtures and including the five vessel acquisitions, the group’s secured revenue backlog stands at $227m, estimated based on each vessel’s latest redelivery date.
▪ For the group’s currently owned 39 vessels 10,761 days have been contracted for the period from July 1, 2025 to June 30, 2026, representing 77% charter coverage.
