Efnav Expands Fleet with Six Eco-Friendly Bulk Carriers
Greek shipping company Efnav is set to enhance its dry bulk fleet by ordering six kamsarmax bulk carriers from Hengli Heavy Industries, marking its inaugural partnership with the burgeoning Chinese shipyard. The contract, signed this week in Dalian, is valued between $216 million and $228 million, with deliveries planned for the latter half of 2026.
Details of the Contract and Vessels
The agreement for the new vessels was officiated by Efnav’s founder, Philippos Efstathiou, and Hengli Group’s chairman, Chen Jianhua. Each of the 82,000 dwt bulk carriers is estimated to cost between $36 million and $38 million, reflecting Efnav’s strategic investment in modernizing its fleet. The newbuilds will be constructed following Hengli’s innovative eco-design, which incorporates advanced energy-efficient technologies aimed at complying with the International Maritime Organization’s (IMO) stringent emissions standards.
These vessels are expected to meet the Energy Efficiency Design Index (EEDI) Phase 3 requirements, emphasizing Hengli’s commitment to a sustainable future in shipping. The yard describes the bulk carriers as “green, energy-saving, and safe,” targeting enhanced fuel efficiency and reduced carbon emissions in line with global environmental goals.
This order is a significant milestone for Efnav, marking its return to the newbuilding market after several years. The Athens-based owner currently manages approximately 15 bulk carriers of similar specifications and had last placed orders at Nantong COSCO KHI Ship Engineering (NACKS) in 2018. Following this latest contract, Efnav aims to bolster its competitive edge in the bulk shipping sector.
Hengli’s Expanding Portfolio and Greek Partnerships
The contract with Efnav further solidifies Hengli Heavy Industries‘ rapidly expanding newbuilding portfolio. The shipyard has recently secured multiple contracts for various types of vessels, including VLCCs, capesize, and kamsarmax bulkers, within just a few weeks. This growth reflects Hengli’s aggressive expansion strategy in the maritime industry.
Additionally, this latest deal is part of a series of recent bulk carrier contracts involving Greek owners. Earlier this month, Eastern Mediterranean Maritime, led by Thanasis Martinos, placed an order for four kamsarmaxes at Hengli, while Seanergy, under the leadership of Stamatis Tsantanis, secured a contract for one 181,000 dwt unit with options for an additional vessel. This flurry of activity underscores the increasing collaboration between Greek shipping companies and Chinese shipyards, heralding a new era of maritime partnerships.
