South Korea’s HJ Shipbuilding & Construction (HJSC) recently disclosed a container ship construction contract worth approximately US$491 million to build four container ships for a client, with the counterparty being an unnamed Oceania-based shipowner.

According to shipbrokers and market sources, the party behind the order is Navios Maritime Partners (hereinafter “Navios”). Judging from the contract price, the vessels should be 10,100 TEU container ships. The shipowner had previously signed contracts with HJSC to build a series of new ships.

This is the largest container ship type HJSC has ever secured. Earlier this year, the yard entered this segment by winning an order for four container ships from an anonymous European shipowner. According to the company, the ship type features an efficient, cutting-edge design that maximizes cargo capacity on deck and in cargo holds while also enhancing operational efficiency and navigational safety.

Feedback from the shipbroking market shows that the newbuilding market for 7,000–15,000 TEU container ships is currently gaining momentum, and available shipyard slots are being rapidly consumed. According to foreign media reports, Germany’s Offen Group is also interested in returning to the container ship newbuilding arena and plans to order vessels at Chinese shipyards.

In recent years, Navios has been actively positioning itself in the newbuilding business. Its financial reports show that the U.S.-listed company’s newbuilding program comprises 29 vessels, with total investment of approximately US$2.5 billion and corresponding contract revenue of US$1.8 billion. Specifically, three 7,900 TEU and four 8,850 TEU container ships are expected to be delivered in the first half of 2028; seven VLCCs, eight Aframax/LR2 tankers and four MR2 tankers are expected to be delivered before 2029; and another three Capesize bulk carriers will be delivered successively between the second half of 2028 and 2029.

According to its website, including newbuildings, Navios currently has a fleet of 175 vessels, with an average age of 8.7 years and a total value of more than US$10 billion, comprising 65 bulk carriers, 60 tankers and 50 container ships.