Greek shipowner Petros Pappas is making a notable return to the container shipping sector, with his privately held company Oceanbulk reportedly signing a contract for two new feeder boxships in China.
According to shipbuilding and market sources, the deal involves two 3,100 TEU vessels at Zhoushan Changhong International Shipyard, priced at approximately $47 million each. Deliveries are expected between late 2027 and early 2028. If confirmed, this would mark Oceanbulk’s first foray into container shipping in seven years, following Pappas’ divestment of his previous holdings in the segment.
Zhoushan Changhong, a privately owned yard within the Zhoushan Changhong International Industrial Park, has been increasingly active in the boxship market. The yard recently secured orders from major players including MSC for LNG dual-fuel vessels.
Oceanbulk currently operates a fleet of five bulk carriers and has no active containerships, making the reported feeder order a significant step toward diversification for the group, which has historically focused on dry bulk cargo.
Petros Pappas, also the CEO of Star Bulk Carriers, oversees one of the world’s largest dry bulk fleets, comprising 137 vessels in service and five Kamsarmaxes under construction.
The move aligns with a broader Greek trend in 2025, as several traditional bulker and tanker owners show renewed interest in small-to-mid-size container ships. Notable players including Alberta Shipmanagement, Danaos, Capital Group, Minerva Dry, Chartworld, Latsco Shipping, and Euroseas have all placed similar newbuilding orders this year, signaling a strategic pivot toward diversification within the Greek shipping community.
Oceanbulk’s re-entry into the container market underscores both the resilience of Greek shipping entrepreneurs and the growing appeal of feeder boxships in global maritime trade.