Costamare of Greece is set to strengthen its relationship with Samsung Heavy Industries (SHI) by placing an order for the largest containerships in its history.
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Market players say SHI and Hyundai Heavy Industries (HHI) were vying for the 20,500-teu newbuildings but the former won the race after offering a better price.
Costamare is said to be paying $155m each for its four firm newbuildings, with a further two options priced at the same level. Deliveries are scheduled for 2017.
Costamare chief executive Costis Constantakopoulos has booked the vessels on the back of long-term charters to Japanese shipping giant Mitsui OSK Lines (MOL).
Details of the deal have not been disclosed but MOL is said to be looking at 10 to 15 years at rates below $60,000 per day.
Shipbroking sources say it is not clear if the vessels have been ordered by the owner independently or via its venture with private-equity partner, York Capital Management.
Gregory Zikos, chief financial officer of Costamare, which is presently in a quiet period ahead of its fourth-quarter results announcement, declined to comment on the matter when contacted by TradeWinds this week.
Costamare is an existing customer of SHI. It currently has five 14,400-teu newbuildings under construction at the yard. The quintet was placed early last year for delivery in 2016 against long-term charters to Evergreen Marine Corp of Taiwan.
The deal marks the second major boxship order for SHI in quick succession. As TradeWinds reported last week, Quantum Scorpio Box booked three further 19,200-teu units at the yard to take its orderbook to six.
Besides fixing in the Costamare ULCs, MOL is also chartering two vessels of similar size from Shoei Kisen (see story, page 23).
Sources say the Japanese owner has commissioned sister company Imabari Shipbuilding to construct the containerships for delivery in the first half of 2017.
Privately owned Imabari will build a new drydock at its Marugame facility to build them, as reported by TradeWinds last week.
The shipbuilder, which is controlled by the Higaki family, is targeting the emerging market for ULCs that is currently dominated by South Korean yards.
