Goldenport Shipmanagement, the Greek owner led by John Dragnis, has once again moved into the dry bulk newbuilding market by placing an additional order for two Ultramax bulk carriers with a Chinese shipyard.
Shipping brokerage reports that Goldenport has placed an order with Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (Nantong Xiangyu SOE) for two 63,500 DWT bulk carriers, which are expected to be delivered in 2029.
These new vessels represent an add-on order to a contract for two identical ships signed just days earlier. While the price for the initial pair was approximately US$35 million per vessel—and the cost for the additional order has not been disclosed—if the pricing remains consistent, the total value for the four new ships would be around US$140 million.
This follow-up order with Nantong Xiangyu SOE underscores Goldenport’s determination to return to the dry bulk newbuilding market, marking a shift from its previous preference for acquiring secondhand vessels and investing in other shipping sectors.
Goldenport’s collaboration with the state-owned Nantong Xiangyu SOE predates 2026; the two parties signed a contract in 2022 for the construction of five 63,500 DWT Ultramax bulk carriers—making Goldenport the shipyard’s first Greek client—with the vessels delivered in 2023 (three vessels) and 2024 (two vessels).
In addition to its presence in the bulk carrier market, Goldenport has placed orders this year with China Merchants Shipbuilding Qingshan Shipyard for three 1,800 TEU container ships. Scheduled for delivery in 2027 and 2028, the total cost of these vessels ranges from US$93 million to US$99 million.
Currently, Goldenport manages a fleet of 31 vessels, comprising 25 bulk carriers and six container ships. Notably, beyond the aforementioned orders for container ships and bulk carriers, Oceangold Tankers—a shipping company also controlled by John Dragnis—holds orders for gas carriers at South Korean shipyards.
Nantong Xiangyu SOE has recently demonstrated strong order momentum in the dry bulk carrier market, securing shipbuilding contracts across segments ranging from Ultramax to Newcastlemax over the past few months. In addition to the two previously mentioned follow-on orders, the shipyard will build five 210,000 DWT Newcastlemax bulk carriers for COSCO SHIPPING Development. These new vessels feature a “methanol- and ammonia-ready” design; the deal is valued at RMB 2.64 billion (approximately US$391 million), with deliveries scheduled to take place successively between May and December 2030.
Currently, Nantong Xiangyu SOE operates a production network comprising two shipyards and four bases, with an annual shipbuilding capacity exceeding 3 million DWT. The company’s order book stands at approximately 130 vessels, with delivery schedules extending through 2030.