Greek shipowner Enesel Group is accelerating its expansion into the dry bulk shipping market, having finalized orders for eight bulk carriers across two vessel types with private Chinese shipyards.
According to fleet data on Enesel’s official website, the company has placed an additional order with Hengli Heavy Industries for two 181,500 DWT Capesize bulk carriers, bringing the total number of vessels of this type under construction by the yard for Enesel to four (hull numbers HL-B181K-17, HL-B181K-38, HL-B181K-50, and HL-B181K-51; the first two were announced in April). Additionally, Enesel has ordered four 63,500 DWT Ultramax bulk carriers from Jiangsu Hantong Ship Heavy Industry Co., Ltd(HT) (hull numbers HT 64-632, HT 64-636, HT 64-662, and HT 64-663).
This batch of new vessels is scheduled for delivery between the second quarter of 2027 and the first quarter of 2028. The Capesize bulk carriers measure 291.95 meters in length and 45 meters in width, with a speed of 14.5 knots, and are classed by DNV; the Ultramax bulk carriers measure 199.9 meters in length and 32.26 meters in width, with a speed of 13.5 knots, and are classed by ABS.
Shipbrokers report that Hengli Heavy Industries is currently quoting around $78 million for a new 180,000 DWT Capesize bulk carrier. For reference, the total cost for Enesel’s four new vessels is approximately $312 million.
The cost of the HT order was likewise undisclosed, though the shipyard’s recent quotes for Ultramax bulk carriers have hovered around $35 million. For reference, the total cost of the aforementioned four new vessels is approximately $140 million, while the total value of the eight new vessels exceeds $450 million.
Notably, this move to build up its newbuild orderbook marks a key step in Enesel’s return to the dry bulk market. The shipowner had previously exited the dry bulk sector entirely—selling three Capesize bulkers to Hayfin Capital—as part of a fleet restructuring; during that same period, it capitalized on strong market conditions to sell off several tankers, primarily Aframax/LR2 vessels and VLCCs.
Enesel currently operates a diversified fleet comprising tankers, bulkers, and containerships—specifically 11 tankers and 11 containerships—with its eight bulkers all currently under construction. Its tanker fleet includes VLCCs, Suezmaxes, and Aframax/LR2 vessels, while its containerships range in capacity from 10,600 TEU to 15,440 TEU.
Recently, Hengli Heavy Industries and HT have emerged as the “shipyards to watch” in the newbuilding market.
Hengli Heavy Industries is reportedly set to secure an order from MSC for up to twenty 20,000 TEU-class LNG dual-fuel container ships. While this order has been corroborated by multiple shipbrokers and market sources, neither the shipyard nor the shipowner has officially confirmed it yet. MSC has previously placed orders with Hengli Heavy Industries for nearly thirty ultra-large container ships, ranging in capacity from 21,000 TEU to 24,000 TEU.
Since June, HT has achieved significant success in the tanker and bulk carrier markets. According to incomplete data, its order intake includes eight VLCCs, 4+2 115,000 DWT tankers, 2+2 211,000 DWT bulk carriers, and four 82,000 DWT bulk carriers.