Greek shipowner Petros Pappas is edging back into the container market, with his privately held firm Oceanbulk reportedly striking a deal for a pair of feeder newbuildings in China.
Shipbuilding and market sources have tied Oceanbulk to a contract for two 3,100 teu boxships at Zhoushan Changhong International Shipyard, priced at around $47m apiece. Deliveries are expected between late 2027 and early 2028.
If confirmed, the order would mark Oceanbulk’s first move into the container segment in seven years, since Pappas divested his previous holdings in the sector.
Zhoushan Changhong, a privately owned yard under the Zhoushan Changhong International Industrial Park, has been gaining traction in the boxship market, recently securing deals from major players such as MSC for LNG dual-fuel tonnage.
Shipping databases show Oceanbulk currently operates five bulk carriers, with no active containerships in its fleet. The reported feeder order would therefore signal a return to diversification for the group, which has traditionally focused on dry cargo.
Pappas, best known as the chief executive of Star Bulk Carriers, controls one of the world’s largest dry bulk fleets — 137 vessels in service and five kamsarmaxes under construction.
Oceanbulk’s move follows a wider Greek trend in 2025, as several traditional bulker and tanker owners show interest in small-to-mid-size boxships. Companies including Alberta Shipmanagement, Danaos, Capital Group, Minerva Dry, Chartworld, Latsco Shipping and Euroseas have all lined up similar newbuildings this year.
