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Greek shipowners returning to bulk carriers

Last week, orders were placed for 12 ultramaxes, bringing confirmed 2023 contracts to over 100, according to a note from freight brokerage Intermodal.

The construction of dry bulk ships has recently been accelerated, with Greek shipowners taking a leading role in the agreements of the last few days.

Initially, Diana Shipping, headed by Semiramis Paleou, announced that it has signed a letter of intent (LOI) with the Chinese shipyard Tsuneishi Group (Zhoushan) Shipbuilding for the construction of two bulk carriers, of the kamsarmax type, with a capacity of 81,200 dwt each one. The LOI proceeded through Japanese trading house Marubeni Corporation.

The innovation of the two ships is that they will be equipped with dual fuel engines, capable of burning methanol. Each of them will cost about 46 million dollars to build.

The two kamsarmaxes will be delivered by the first half of 2028. “Diana Shipping is proud of its role as an industry leader in a continuous effort to improve our fleet and operations for the benefit of our shareholders and the environment,” commented the director and CEO of the company listed in the US market, Semiramis Paleou.

“This investment underlines our commitment to sustainable shipping and makes us able to meet the evolving demands of our industry while reducing our carbon footprint,” she added.

At the same time, Chartoworld, according to “Naftemporiki”, is reportedly behind the order of two bulk carriers, ultramax type, with a capacity of 63,000 dwt each, in China.

According to shipping sources, the order was placed at the Chinese shipyard Sumec Dayang and delivery of the vessels is expected by October 2025. Each vessel is valued at 32.6 million dollars.

Last week, orders were placed for 12 ultramaxes, bringing confirmed 2023 contracts to over 100, according to a note from freight brokerage Intermodal.

However, medium-sized kamsarmax continue to attract the main investment interest. A total of 137 shipbuilding contracts of this type have been signed this year.