Six vessels at 1.5 billion yuan each! Hengli Heavy Industry has secured the Greek shipping magnate’s first order for medium-sized bulk carriers.

Greek shipping magnate Evangelos Marinakis continues to ramp up his investment in Hengli Heavy Industries, for the first time expanding his newbuilding portfolio into the medium-sized bulk carrier segment.

According to reports, Capital Maritime & Trading, owned by Evangelos Marinakis, has placed an order with Hengli Heavy Industries for six 82,000‑dwt Kamsarmax‑class bulk carriers, with delivery scheduled for 2028. Ship brokers estimate that each vessel will cost approximately US$37 million, bringing the total transaction value to around US$222 million (roughly RMB 1.504 billion).

For reference, Clarkson’s data show that the current price of a new 82,000–84,000-dwt Kamsarmax bulk carrier stands at USD 37.5 million (approximately RMB 254 million), slightly up from USD 36.5 million at the same time last year.

This order was signed during the 2026 Greek International Maritime Exhibition held in early June, when Hengli Heavy Industry announced that it had secured orders for 21 plus 4 new vessels from six overseas shipowners, with a total value approaching RMB 15 billion. The portfolio encompasses five major high-end vessel types, including 6,000‑TEU container ships, Kamsarmax bulk carriers, Capesize bulk carriers, LR2 product tankers, and Suezmax crude oil tankers. However, Hengli Heavy Industry did not disclose further details, only confirming that Capital was among the shipowners placing orders for bulk carriers.

Capital is a long-standing customer of Hengli Heavy Industries and placed an order with the company in April this year for four Capesize bulk carriers. According to Clarkson’s data, in addition to its latest Kamsarmax‑class bulk carriers, Capital currently has nine Capesize bulk carriers, 16 VLCCs, and two LR2 product tankers on order from Hengli Heavy Industries.

The latest order also marks Capital’s first large-scale investment in the construction of Kamsarmax‑class bulk carriers. For many years, Capital has focused on investing in tankers, LNG carriers, and container ships. It was only last year that the company returned to the newbuilding market for bulk carriers after a 15‑year hiatus, signing its first two orders with Hengli Heavy Industries for 180,000‑dwt Capesize bulk carriers.

Data show that Capital’s fleet currently comprises five Kamsarmax‑class, two Newcastlemax‑class, and four Capesize bulk carriers. Notably, all five Kamsarmax‑class vessels were acquired as secondhand ships between 2021 and 2024. As its newbuilding orders begin to take effect, Capital is gradually shifting from secondhand‑ship investments to expanding its fleet with newly built vessels, thereby accelerating the optimization of its dry bulk shipping portfolio.

According to reports, as a core shipping company under Greek shipping magnate Evangelos Marinakis, Capital’s principal business lines encompass tanker operations, LNG transportation, dry bulk shipping, ship management, and maritime investment. The group manages more than 150 vessels, including VLCCs, Aframax tankers, LNG carriers, liquefied carbon dioxide (LCO2) carriers, and container ships, and maintains long-term partnerships with major global energy companies, trading houses, and shipping enterprises.

Capital has long been one of the shipping industry’s most active investors in newbuildings, currently holding orders for more than 120 vessels, including mid-sized container ships, LNG carriers, VLGCs, very large ammonia carriers (VLACs), as well as various types of oil tankers, bulk carriers, and offshore support vessels. The recent additional order for Kamsarmax‑class bulk carriers further underscores Capital’s strategic intent to expand its dry bulk fleet and advance the diversification of its vessel portfolio.

Notably, in January of this year, Evangelos Marinakis partnered with the Madias family to establish a new bulk carrier company, Capital Axis Maritime. Led by Nicholas E. Madias, the joint venture provides commercial operations and technical management services for a fleet of 20 bulk carriers, including several Cape-size vessels currently under construction.

Greek shipowners, led by Evangelos Marinakis, are Hengli Heavy Industries’ largest customers. Thanks to its competitive pricing and relatively short delivery schedules, Hengli Heavy Industries has rapidly emerged in recent years as the shipyard of choice for Greek shipowners. Data show that over the past three years, Greek shipowners have placed orders with Hengli Heavy Industries for 145 oil tankers and bulk carriers, totaling approximately US$10.2 billion (about RMB 69.006 billion).

Since the beginning of this year, Hengli Heavy Industry has secured new ship orders totaling more than 150 vessels, surpassing its previous record of 115 ships set in 2025 and marking a new all-time high.

According to Clarkson’s data, Hengli Heavy Industries currently holds orders for a total of 321 vessels, amounting to 56.07 million deadweight tons and 11.57 million CGT. Measured in CGT, the company ranks first among single‑yard shipbuilders worldwide. The order book includes 137 oil tankers, 110 bulk carriers, 68 container ships, and 6 LPG carriers, with delivery schedules extending through 2030.