Chartworld pounces for Japanese capes
Bulk Carrier Sales Surge as Buyers Compete
The summer slowdown in bulk carrier sales has come to an end, with a notable increase in activity from buyers in Greece, Turkey, Indonesia, and Thailand. These buyers are aggressively outbidding their Chinese counterparts, who had previously dominated the market during the summer months. This shift signals a dynamic change in the competitive landscape of bulk shipping.
Chartworld Shipping Expands Fleet with New Acquisitions
One of the most prominent players in this recent surge is Chartworld Shipping, owned by Lou and George Kollakis. The Athens-based company is set to expand its fleet significantly, with plans to acquire two Japanese-built capesize vessels: the Frontier Neige and the Cape Jacaranda. These ships, built in 2011 and weighing 183,000 dwt and 181,000 dwt respectively, were sold by Japan’s Kumiai Navigation for approximately $25 million each. The delivery of these vessels is expected in 2026.
OceanScore analysis shows near-tripling of EU ETS costs due to Red Sea crisis
This acquisition marks Chartworld’s second bulker transaction of the year, following a successful ultramax resale from the UK’s Union Maritime earlier in 2025. With this latest move, Chartworld’s fleet of capesize vessels will increase to ten, contributing to a total fleet size of 62 ships, according to data from VesselsValue. The Kollakis family’s strategic investments reflect their commitment to expanding their presence in the bulk shipping market, positioning Chartworld as a significant player in the industry.
