Greek shipowner Tsakos Group has emerged as the latest owner linked to a capesize newbuilding deal at China's Hengli Heavy Industries, joining a growing list of Greek names betting on the large bulker segment, according to Splash247. The order adds two 180,000 dwt units to the dry bulk orderbook, with delivery scheduled for 2028.
The Tsakos Order
Multiple shipbuilding and brokerage sources indicated that the Tsakos Group has contracted two 180,000 dwt capesize vessels at Hengli Heavy Industries, reported Splash247. Each vessel is priced at about $78 million and is scheduled for delivery in 2028. Market sources suggest the ships may be resales rather than direct yard orders.
This move marks a relatively rare dry bulk newbuilding investment for the Tsakos Group, which has traditionally focused on tankers and gas shipping through its New York-listed arm, Tsakos Energy Navigation. The group currently operates a fleet of around 10 bulkers, ranging from kamsarmaxes to capesizes. Its most recent capesize addition was the 182,344 dwt World Seafarer, ordered at Japan's Namura Shipbuilding in 2021 and delivered in 2023. The wider Tsakos fleet numbers more than 110 vessels, including units under construction.
Greek Owners Flock to Hengli
The order comes as Hengli Heavy continues to attract a growing share of Greek dry bulk business. According to Splash247, owners including Maran Dry, Seanergy Maritime, Neda Maritime, Alpha Bulkers, and Enesel have all surfaced in the capesize newbuilding market this year.
Fellow Greek owner Cape Shipping has also been linked to a separate capesize deal at Hengli. The Adrianopoulos family-controlled company has booked up to three 180,000 dwt vessels for delivery through the second quarter of 2028.
Cape Shipping's Return to Dry Bulk
Cape Shipping only recently returned to the dry bulk newbuilding market after an absence of more than 15 years, placing an order earlier this year for two newcastlemax bulk carriers at China's Dajin Heavy Industry. That move marked a shift for the Athens-based owner, which in recent years has focused much of its fleet renewal programme on tanker and containership investments, including VLCC newbuildings.
Implications for Dry Bulk Capacity
While the deliveries are not expected until 2028, the accumulation of capesize orders from Greek owners at Hengli signals growing confidence in the dry bulk sector. The orders will increase the global capesize fleet capacity over the medium term, potentially affecting supply-demand balances on major iron ore and coal trades. Shippers and operators should monitor the orderbook growth as a leading indicator of future freight rate pressure.
Summary of recent Greek capesize orders at Hengli Heavy Industries:
| Owner | Vessel Type | Quantity | DWT per vessel | Price (approx) | Delivery |
|---|---|---|---|---|---|
| Tsakos Group | Capesize | 2 | 180,000 | $78 million | 2028 |
| Cape Shipping | Capesize | up to 3 | 180,000 | not disclosed | Q2 2028 |
| Maran Dry, Seanergy, Neda, Alpha Bulkers, Enesel | Capesize | multiple | not specified | not specified | 2027-2028 |
The trend of Greek shipowners diversifying into dry bulk after years of tanker and containership focus suggests a strategic shift. With Hengli Heavy becoming a preferred builder, further orders may emerge, adding to the already sizable dry bulk orderbook. Operators in the logistics chain should consider the potential impact on long-term charter rates and fleet availability.
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