Greek dry bulk owner Meadway Bulkers, keen to build vessels in Japanese shipyards, has placed another order for an Ultramax bulk carrier to expand its fleet.
Meadway Bulkers is understood to have entered into a contract with Imabari Shipbuilding of Japan for the construction of a 64,000 dwt bulk carrier scheduled for delivery in the second quarter of 2027.
Including this order, Meadway Bulkers currently has six vessels on order: four Ultramax bulk carriers and two handysize bulk carriers. Three of the Ultramax bulk carriers are being built by Tsuneishi Shipbuilding and are expected to be delivered in the third quarter of 2026, while the two Handysize bulk carriers are being built by Namura Shipbuilding and are expected to be delivered in the first quarter of 2026.
Meadway Bulkers currently operates a fleet of 15 bulk carriers, most of which were built in Japan.
Greek shipowners have a decades-long relationship with Japanese shipyards, and the two sides have cooperated on different ship types many times. Although Chinese shipyards have increasingly become the first choice for Greek shipowners to order ships in recent years, some shipowners still have a preference for Japan.
Prominent Greek shipowners who have placed orders with Japanese shipyards include Alberta Shipmanagement, DryDel Shipping, Latsco, Safe Bulkers and Samos Steamship.
According to BRS Shipbrokers, Japan remains the world’s third-largest shipbuilding nation in 2024 with a total order book of 43 million DWT, accounting for 11% of the market share, down from 15% at the end of 2023. Bulk carriers are the mainstay of Japanese shipbuilding, accounting for 29 million DWT, followed by tankers (8 million DWT) and container ships (5 million DWT).