Greek shipowner Andreas Martinos is making a significantly larger commitment to the containership market.

His dry bulk and boxship platform, Minerva Dry, has ordered four 6,000-teu containerships at China’s Hengli Shipbuilding, according to the latest report by TradeWinds. The vessels, identified as hull numbers 41, 42, 49 and 50, are scheduled for delivery between April and August 2028.

Neither Minerva nor Hengli has publicly announced the deal, and pricing has not been disclosed. Shipbuilding sources, however, estimate that comparable vessels recently contracted at Hengli were priced at about $80m each, suggesting a combined investment of roughly $320m.

The deal is Minerva’s largest single containership investment since entering the sector three years ago and marks its first move into the 6,000-teu class.

From market entry to a 22-ship fleet

Minerva has traditionally been associated with tanker and dry bulk shipping. Its systematic expansion into containerships began only in 2023.

Rather than entering the sector with a large speculative newbuilding programme, the company initially acquired nine modern small containerships through resale and secondhand transactions. The strategy allowed Minerva to establish operational and commercial exposure to the sector while limiting its initial capital commitment.

The company subsequently moved into newbuildings, ordering nine vessels ranging from 1,800 teu to 3,000 teu at three Chinese yards: Penglai Zhongbai Jinglu Ship Industry, Yangzijiang Shipbuilding and Huanghai Shipbuilding.

Including the latest Hengli order, Minerva will have 22 containerships in operation or under construction, with total investment in the sector approaching $1bn.

The development of the fleet shows a clear progression. Minerva first entered the market with nine relatively small modern vessels, followed with a series of feeder newbuildings, and is now adding 6,000-teu ships capable of serving a wider range of routes and charterers.

Containerships are therefore becoming more than an opportunistic asset play for the company. They are developing into a distinct and increasingly important part of Minerva’s diversified shipping portfolio.

Moving into the 6,000-teu segment

The 6,000-teu class sits between traditional feeder ships and the much larger vessels deployed on major east-west trades.

Ships of this size can operate on regional trunk routes, north-south services and selected secondary east-west trades. They also offer broader port accessibility and deployment flexibility than ultra-large containerships.

For an independent tonnage provider, that flexibility can be commercially valuable. Major liner companies require mid-sized vessels when renewing regional fleets, restructuring service networks or adding capacity to routes where the largest ships cannot be efficiently deployed.

By moving from the 1,800-teu to 3,000-teu range into the 6,000-teu segment, Minerva is broadening both its potential charterer base and the number of trades on which its vessels can operate.

The latest order is therefore not simply an increase in fleet numbers. It adds a new capacity tier that was previously absent from Minerva’s containership portfolio.

Hengli relationship expands beyond tankers

The Martinos-controlled group is already familiar with Hengli Shipbuilding.

Minerva Marine, the tanker arm of the business, currently has two suezmax tankers and one LR2 product tanker under construction at the Chinese yard. The latest containership contract extends that relationship from tankers into a new vessel segment.

TradeWinds also noted that some shipping databases list additional Minerva LR2 orders at Hengli, but its market sources understand those records to be inaccurate. The currently confirmed tanker programme consists of two suezmaxes and one LR2.

Awarding its largest containerships to Hengli indicates that Minerva is comfortable extending the partnership into a more technically distinct product line.

A 6,000-teu containership requires different capabilities from a tanker or bulk carrier, including container stowage and lashing arrangements, hatch-cover systems, reefer capacity, stability management, vibration control and speed-performance optimisation.

For Hengli, winning a four-ship series from an established Greek owner will help strengthen its credentials in the mid-sized containership market.

Hengli builds momentum among Greek boxship owners

Hengli has expanded rapidly in the Greek shipowning market since returning to shipbuilding, although most of its earlier business was concentrated in tankers and bulk carriers.

According to TradeWinds data, Greek owners have placed orders for 177 vessels at Hengli since the group entered the shipbuilding business three years ago. In 2026 alone, the yard has reportedly accounted for around one-third of all ships ordered by Greek owners in China.

Its breakthrough into Greek-linked containership business has come more recently.

US-listed tonnage provider Global Ship Lease is believed to have ordered four 6,200-teu vessels at Hengli last month, becoming the yard’s first Greek-controlled containership customer.

With Minerva now adding four 6,000-teu vessels, Hengli has secured at least eight ships in this size range from two internationally recognised owners within a relatively short period.

The development broadens Hengli’s product mix. After rapidly building an orderbook across VLCCs, suezmaxes, LR2 tankers and large bulk carriers, the yard is now establishing a stronger position in mainstream containership construction.

Martinos family companies deepen their China ties

Minerva is part of the wider Martinos shipping family, one of the most influential names in Greek maritime business.

Athina Martinou and her three sons established Thenamaris Ships Management in 1972. The family subsequently developed several independently managed shipping groups, including Thenamaris, Eastern Mediterranean Maritime and Minerva, with interests spanning tankers, bulk carriers, gas carriers and containerships.

Although the individual companies operate independently, several Martinos-controlled businesses have recently expanded their relationships with Chinese shipyards.

Alongside Minerva’s tanker and containership projects, Nikolas Martinos-led Thenamaris has been linked to a substantial product tanker programme in China.

Market reports suggest Thenamaris is pursuing as many as 12 LR2 and MR2 tankers across Shanhaiguan Shipbuilding, Hengli Shipbuilding and Cosco Shipping Heavy Industry’s Guangdong yard. The Shanhaiguan deal would also mark a return to the Dalian shipbuilding system roughly 30 years after Thenamaris last ordered vessels there.

The investment decisions are made separately, but the direction is consistent: Chinese yards are becoming increasingly important partners in the Martinos family’s fleet renewal and diversification strategies.

A strategic expansion rather than a short-term bet

The latest order takes Minerva from a relatively recent entrant in container shipping to the owner of a 22-ship fleet on the water and under construction.

Its portfolio now includes modern small secondhand vessels, 1,800-teu to 3,000-teu feeder newbuildings and the newly ordered 6,000-teu ships. These different vessel sizes provide exposure to multiple trades, charterers and market cycles.

Container shipping is unlikely to replace Minerva’s established tanker and dry bulk operations. But an investment approaching $1bn shows that the segment has become a substantial part of the company’s asset strategy.

The deal also brings together two parallel developments.

Minerva is turning its initial containership exposure into a scaled, multi-segment business, while Hengli is extending its rapid expansion from tankers and bulk carriers into the international containership market.

The four 6,000-teu newbuildings represent the point where those two strategies now meet.