Economou’s TMS Group to splash up to $1.4B on LNG dual-fuel containership fleet

Greek shipping magnate George Economou-led TMS Group has ordered up to ten 11,400 TEU environmentally friendly containerships in China.

The order encompasses six firm Neo-Panamax boxships and four options, Greek shipbroker Intermodal revealed.

As informed, TMS Group will pay $140 million per unit, bringing the total value of the contract to $1.4 billion if all options are exercised.

The containership fleet will be built at Zhoushan Changhong International Shipyard, Zhoushan City in China.

The newbuilds will have a liquefied natural gas (LNG) dual fuel propulsion and are expected to be delivered between 2027 and 2029.

In late 2024, TMS Group made a comeback to the container shipping business as it ordered four methanol-ready 7,900 TEU boxships at HJ Shipbuilding & Construction (HJSC) in South Korea.

It is understood that TMS Group’s fleet currently comprises more than 130 ships (tankers, bulkers, gas carriers) operated by TMS Cardiff Gas, TMS Tankers, and TMS Dry, and TMS Bulkers. What is more, the Greek shipowner has more than 40 vessels in its orderbook.

In related news, TMS Tankers took delivery of two new Suezmax tankers equipped with eco-friendly technologies in December last year. The 159,000 dwt crude oil tankers, Ipanema and Toska, were built at New Times Shipbuilding in China.