M/Maritime Expands Into Container Shipping
Greek owner M/Maritime is branching out into the container shipping sector, marking a significant shift in its business strategy. The company has placed an order for two 2,800 teu newbuildings at HD Hyundai Heavy Industries, with deliveries expected to commence in early 2028.
Vessel Specifications
The vessels will be built to the yard’s eco-focused CON-GREEN design and will meet IMO Tier III standards, emphasizing fuel efficiency and operational flexibility. Additionally, the vessels will have high reefer capacity, making them well-suited for a variety of container shipping operations.
Core Business Expansion
M/Maritime has also bolstered its core dry bulk business, securing three long-term time charters for newbuilding bulkers at Japanese yards, including Oshima Shipbuilding, Onomichi Dockyard, and Imabari Shipbuilding. The charters, which run between five and ten years, include purchase options at the end of each period, with deliveries scheduled between 2029 and 2030.
Company Overview
Founded in 2016 by John Mytilineos, M/Maritime currently operates a fleet of 18 dry bulk vessels, spanning handysize, ultramax, and kamsarmax segments, all built at Japanese yards. This move into container shipping marks a significant expansion of the company’s operations and sets the stage for further growth in the maritime industry.
Key Points:
- M/Maritime orders two 2,800 teu feeder boxships at HD Hyundai Heavy Industries
- Vessels to be built to eco-focused CON-GREEN design, meeting IMO Tier III standards
- High reefer capacity included in vessel specifications
- Three long-term time charters secured for newbuilding bulkers at Japanese yards
- Charters include purchase options, with deliveries between 2029 and 2030