Greek shipping tycoon Evangelos Marinakis has made another major move. Recent reports reveal that his company, Capital Maritime, has secured nearly $1.6 billion in new container ship orders from two major South Korean shipyards. The orders cover a strategic range of vessels, from 1,800 TEU feeder ships to 8,400 TEU mainline models, building a robust and diversified fleet.

According to industry sources, Capital Maritime has commissioned Hyundai Mipo Dockyard to build 14 ships, including six 1,800 TEU vessels equipped with scrubbers and eight 2,800 TEU ships. The former are priced at approximately 45 million each, while the latter cost 45millioneach,whilethelattercost55 million per unit, with delivery expected in 2027. Meanwhile, Hyundai Samho will construct six 8,400 TEU LNG dual-fuel newbuilds, each valued at $140 million, scheduled for delivery from Ulsan in 2028.

This new order follows Marinakis’s previous deal for 10 similar LNG dual-fuel vessels at China’s New Times Shipbuilding last year. However, the shift to South Korean shipyards this time reflects more complex geopolitical considerations.

At the recent Capital Link Forum in New York, Marinakis openly expressed concerns about the "future risks of Chinese shipbuilding." He noted that some charterers involved in U.S.-related trade have already started avoiding Chinese-built vessels. If this trend continues, the shipping industry could face a "polarized market"—where shipowners and charterers must choose between "China-built" and "non-China-built" ships, with the additional costs ultimately passed on to end consumers.

Notably, beyond container ships, Marinakis is also relocating his Very Large Crude Carrier (VLCC) projects to South Korea. Earlier this year, he placed an order for two 320,000-ton VLCCs with Hanwha Ocean, each priced at nearly $130 million and slated for delivery in 2027—just months after signing a contract for six similar vessels in China last year.