Capital Maritime Finance seeks €200m in Athens IPO for 36-ship boxship fleet
The Marinakis-linked company has $3.9bn of charters, most of it with CMA CGM and Unifeeder, running to 2034
Capital Maritime Finance, a containership owner linked to Greek shipowner Evangelos Marinakis, is preparing an initial public offering that would list all of its shares exclusively on Euronext Athens. It is targeting proceeds of up to €200m, earmarked for its newbuilding programme and working capital.
The company is part of the group around Capital Maritime & Trading. It is presented as the first shipping IPO in Greece in which a company's full share capital is listed exclusively in Athens, rather than in New York or as a secondary line.
Its fleet will comprise 36 containerships once fully delivered, of which 13 are trading and 23 are under construction. Twenty-six are gearless feeders of between 1,800 and 2,900 TEU, and ten are neo-panamax ships of about 8,800 TEU with LNG dual-fuel engines. The weighted average age is expected to be about two years at full delivery.
All available capacity is chartered out, covering every vessel day through 2034. As of 30 June the contracted revenue backlog stood at $3.9bn, with an average remaining charter term of 9.5 years. CMA CGM accounts for nearly $3bn of those contracts and Unifeeder, the feeder operator owned by DP World, for almost $1bn, on long-term take-or-pay terms.
The company has $1.9bn of capital expenditure still to fund through 2028, of which $1.6bn is covered by bank financing. The balance is to come from operating cash flow and the net proceeds of the offering. Its dividend policy targets quarterly distributions based on adjusted net income, starting in the first quarter of 2027.
The company bases its case on the age of the existing fleet in its segments. It expects half the world's ships below 3,000 TEU, and 32% of those between 8,000 and 12,000 TEU, to be more than 20 years old by 2029, while IMO efficiency rules, the EU emissions trading system and FuelEU Maritime raise the cost of running older tonnage. It also points to regional trades growing as supply chains diversify away from China, with annual growth of up to 5.5% estimated for 2027.
This story is part of the Maritime Briefing of 4 October 2026.
