Greek shipping tycoon George Economou’s TMS Group has placed an order for up to ten environmentally friendly 11,400 TEU containerships in China, marking a significant investment in sustainable shipping.
According to Greek shipbroker Intermodal, the order includes six firm Neo-Panamax vessels with an option for four more. Each unit is priced at approximately $140 million, bringing the total potential investment to $1.4 billion if all options are exercised. The fleet will be constructed at Zhoushan Changhong International Shipyard in Zhoushan City, China, and deliveries are scheduled between 2027 and 2029.
These newbuilds will feature liquefied natural gas (LNG) dual-fuel propulsion, reinforcing TMS Group’s commitment to greener maritime solutions.
This expansion follows TMS Group’s return to the container shipping sector in late 2024, when it ordered four methanol-ready 7,900 TEU containerships from South Korea’s HJ Shipbuilding & Construction (HJSC).
Currently, TMS Group operates a fleet of over 130 vessels, including tankers, bulk carriers, and gas carriers, managed by its subsidiaries TMS Cardiff Gas, TMS Tankers, TMS Dry, and TMS Bulkers. Additionally, the company has over 40 ships on order, underscoring its aggressive growth strategy.
In related news, TMS Tankers expanded its fleet in December 2024 by taking delivery of two eco-friendly Suezmax crude oil tankers, Ipanema and Toska, each with a capacity of 159,000 dwt. Built at New Times Shipbuilding in China, these vessels are equipped with advanced technologies to enhance fuel efficiency and reduce emissions.