Greece’s top shipowners continue to expand their order book with Chinese shipyards.
According to foreign media reports, Greek shipping magnate Evangelos Marinakis is expanding his shipbuilding business into the dry bulk sector. Capital Maritime & Trading, a Greek shipping company led by Evangelos Marinakis, has ordered two Capesize bulk carriers from China’s newly emerging private shipbuilding giant Hengli Heavy Industries.
Two Capesize bulk carriers
According to multiple shipbuilding industry sources, the new vessels will have a deadweight tonnage of 180,000 tons and are scheduled for delivery by the end of 2026. With this order now public, Capital Maritime’s already substantial shipbuilding portfolio expands further, encompassing a diverse fleet including tankers, liquefied natural gas (LNG) carriers, container ships and bulk carriers.
It is worth noting that this order for a Capesize bulk carrier is not the first collaboration between Capital Maritime and Hengli Heavy Industries. On October 15 this year, the two parties had already signed an agreement for one 306,000 DWT Very Large Crude Carrier (VLCC).
At the same time, the addition of two bulk carrier orders to Hengli Heavy Industries marks the continued growth of orders from the top Greek shipowner at Chinese shipyards. Capital Maritime currently holds new ship orders at several Chinese shipyards, including New Times Shipbuilding and Dalian Shipbuilding Industry Corporation (DSIC).
For Evangelos Marinakis, the latest order for a Capesize bulk carrier underscores his continued confidence in the large dry bulk shipping market and the cost competitiveness of China’s shipbuilding industry.
Capital Maritime’s diversified fleet and robust newbuilding order backlog now span all major shipping sectors, including liquefied natural gas, crude oil, container and dry bulk.
Two Kamsarmax bulk carriers
According to Greek media outlet Riviera, Cosmoship Management, a Greek shipowner led by Nikos Savvas, has placed an order for two additional Kamsarmax bulk carriers with Hengli Heavy Industries.
Reports indicate that Cosmoship Management has placed an order with Hengli Heavy Industries for two 82,000 DWT Kamsarmax bulk carriers, scheduled for delivery in 2026. Shipbrokers note that the order was signed earlier this year but only recently appeared on shipping data platforms.
Following orders for multiple feeder container vessels around 2021, Cosmoship Management subsequently placed an order with a Chinese shipyard for two Kamsarmax bulk carriers, expected to join its fleet by the end of 2025.
Additionally, Cosmoship Management remains active in the second-hand vessel market, continuously expanding its fleet through acquisitions of container ships and bulk carriers. According to Equasis data, Cosmoship currently operates a total of 34 vessels across the container vessel and dry bulk carrier sectors.
Greek shipowners remain the most active participants in this year’s Kamsarmax bulk carrier newbuilding market, with Hengli Heavy Industries emerging as the primary contractor in this sector. Such as recently signing contracts for 6 new vessels with Efnav in Greece and 4 new vessels with Eastern Mediterranean in Greece.
Data from Xclusiv Shipbrokers indicates that Panamax/Kamsarmax vessels currently account for 61% of Greece’s total dry bulk carrier orders.