Star Bulk Carriers Expands Fleet with New Orders
Star Bulk Carriers, a prominent player in the Greek dry bulk shipping sector, has made a significant move by ordering up to six kamsarmax vessels from Hengli Shipbuilding in China. This deal includes four firm orders and two optional vessels, all equipped with scrubbers, with deliveries slated for 2026 and 2027. The estimated price for each vessel ranges between $36 million and $38 million, mirroring recent contracts from other Greek shipping companies.
Strategic Growth Amid Fleet Restructuring
Led by CEO Petros Pappas, Star Bulk Carriers is not new to the newbuilding market. The company has already secured five kamsarmax vessels at CMI Qingdao Shipyard, also scheduled for delivery in 2026. This latest order reflects a strategic effort to bolster its fleet profile while maintaining a balance between new acquisitions and asset divestitures. In recent months, Star Bulk has been actively selling, having disposed of more than ten supramaxes and two older kamsarmaxes built in 2006. This shift allows the company to modernize its fleet and adapt to current market demands.
The kamsarmax segment has seen a surge in orders from Greek owners this year, with Hengli Shipbuilding emerging as a top choice for new vessels. Other notable Greek companies have also made substantial orders, including Efnav, which recently placed an order for six kamsarmaxes, and Centrofin Management, led by Dimitris Procopiou, which has increased its own orderbook to eight vessels. The competitive landscape suggests a robust demand for kamsarmax vessels as shipping companies seek to enhance their operational capabilities and sustainability through newer, more efficient ships.
