Economou makes container return with orders in Korea

George Economou is making his first container play since quitting the sector in 2020. Multiple broker reports list Economou’s Cardiff Marine as the owner behind a recent order in South Korea. 

HJ Shipbuilding & Construction (HJSC), the yard formerly known as Hanjin Heavy Industries & Construction, recently announced it had won an order for four 7,900 teu ships. Brokers now confirm the orders came from Cardiff Marine. Deliveries are scheduled from Q3 2026 through to Q2 2027. The deal is backed by a long-term charter.

The sentiment for container newbuildings is picking up again, according to MB Shipbroking.

“For the remainder of the year, we still expect some ongoing negotiations to be finalised, adding to current yearly contracting figure of about 3.8m teu for 2024,” the Danish broker noted in its latest weekly container report.