Four vessels! Greek shipowner places additional order for Capesize bulk carriers.

Greek bulk carrier owner DryDel Shipping continues to invest in ordering large bulk carriers, having signed a new order with Namura Shipbuilding in Japan.

Recently, DryDel announced that its order for 182,000-dwt Capesize bulk carriers from Mingcun Shipbuilding has been increased to four vessels. In addition to the first two vessels ordered at the end of 2024, the third vessel was contracted in July of this year, and most recently, the two parties have reached an agreement on the construction contract for a fourth new vessel.

These new vessels will be equipped with desulfurization devices and feature the latest technology as well as highly efficient, energy-saving engines, meeting the Tier III standards and the third-phase requirements of the Ship Energy Efficiency Design Index (EEDI). The first two vessels are scheduled for delivery in 2028, while the two vessels ordered this year will be delivered in 2029.

The specific price of the new vessel has not been disclosed. For reference, according to Clarkson’s data, the current price of a new Newcastlemax bulk carrier with a deadweight tonnage of 180,000 to 182,000 tons is approximately US$74.5 million (about RMB 525 million), representing a slight decrease from US$76 million in the same period last year.

Costas Delaportas, CEO of DryDel, stated: “This order represents another solid step in the company’s long-term growth strategy. Including this new order, DryDel currently has a total of 11 bulk carriers under construction, all equipped with ultra-high-efficiency engines and boasting outstanding performance.” He also emphasized that DryDel’s support for Japanese shipyards is “based on concrete actions, rather than mere verbal commitments.”

It is understood that DryDel Shipping, formerly known as Meadway Shipping, was founded in 2021 and announced its rebranding last February. At the time, the company stated on social media that the name change to DryDel Shipping would usher in a new chapter, demonstrating its unwavering commitment to delivering exceptional service as well as its bold and innovative approach to work.

According to information on its official website, DryDel currently operates a fleet of 12 bulk carriers with deadweight tonnages ranging from 40,000 to 82,000 tons, with an average vessel age of 3 years. In addition, the company has 22 leased bulk carriers. Last November, DryDel made its first foray into the large bulk carrier segment by placing an order with Meishin Shipbuilding for two Capesize bulk carriers.

Including the latest order, all 11 bulk carriers currently under construction by DryDel Shipping are being built by Japanese shipyards and will be delivered sequentially between 2026 and 2029. These include two 42,300-dwt bulk carriers from Oshima Shipbuilding, one 63,370-dwt bulk carrier from Shin Kasado Dockyard, one 63,300-dwt and one 66,000-dwt bulk carrier from the Cebu shipyard of Imabari Shipbuilding Philippines, one 82,400-dwt bulk carrier from Imabari Shipbuilding, one 63,400-dwt bulk carrier from Nippon Yusen Kaisha’s Kure Shipyard, and four 182,000-dwt bulk carriers constructed by Nagasaki Shipbuilding & Engineering Co., Ltd.

According to Clarkson’s data, as of now, Mingcun Shipbuilding has a total of 27 vessels on order, totaling 2.95 million deadweight tons. These include 26 bulk carriers and 1 LPG carrier, with delivery schedules extending through 2029.