Greek dry bulk shipowner DryDel Shipping has announced that it has secured five-year time charter contracts with Japanese shipping giant Kawasaki Kisen Kaisha (K Line) for four 182,000 DWT Capesize bulk carriers currently under construction; the charters will commence upon the vessels’ delivery.
The four vessels covered by the charter agreement are currently under construction at Japan’s Namura Shipbuilding; the shipbuilding contracts were signed in 2024 and 2025, with deliveries scheduled for 2028 (two vessels) and 2029 (two vessels). These newbuilds are equipped with scrubbers and are being constructed to meet Tier III and EEDI Phase 3 standards.
DryDel Shipping stated that the new vessels utilize a hybrid charter structure, offering both guaranteed minimum returns and exposure to the earnings potential of the Capesize bulk carrier market. This type of arrangement allows the shipowner to secure predictable long-term revenue while still capturing upside gains should freight rates strengthen.
According to its official website, DryDel Shipping is a Greek dry bulk shipping company that officially adopted its current name on February 19, 2024, to distinguish itself from Meadway Bulkers—a company founded in 2021 by George Dellaportas, a family member of Costas Dellaportas.
Since 2019, the shipowner has invested over $1 billion in newbuilding projects—all contracted with Japanese shipyards—and currently has 13 dry bulk carriers under construction, with delivery schedules extending through 2030.