Maran Dry Management Expands Fleet with New Capesize Orders
Maran Dry Management has made a significant move in the maritime industry by re-entering the newbuilding market. The company, part of the Angelicoussis Shipping Group and led by Maria Angelicoussis, has contracted four capesize bulk carriers at Hengli Heavy Industry in China. This order marks Maran Dry’s first foray into bulker contracting since 2017, when it secured newcastlemax vessels from Shanghai Waigaoqiao Shipbuilding. The new contracts include options that could increase the total to six ships, signaling a renewed commitment to fleet expansion.
The decision to order these vessels comes at a time when the dry bulk market is experiencing a resurgence. Maran Dry currently operates a fleet of approximately 40 bulkers, primarily focusing on capesize and newcastlemax segments. The latest orders reflect a growing confidence among shipowners in the larger dry bulk market, as they navigate the challenges of long-term fleet renewal amid stricter environmental regulations and limited shipyard availability.
Hengli Heavy Industry’s Broader Shipbuilding Package
Hengli Heavy Industry’s parent company, Songfa Ceramics, announced the contracts as part of a larger package that includes 17 ships valued between $1.6 billion and $1.8 billion. This comprehensive order not only features Maran Dry’s capesize vessels but also encompasses one LR2 tanker, eight VLCCs (Very Large Crude Carriers) with a deadweight tonnage of 306,000, and four 6,000 TEU containerships. While the yard has confirmed that the counterparties are European owners, their identities have not been disclosed.
The Dalian-based shipbuilder has been gaining traction in the large tanker and bulker segments, attracting a growing number of Greek clients. Other notable Greek shipping companies, such as Capital Maritime and Seanergy, have also recently placed orders for capesize vessels in China, alongside several who have opted for kamsarmax newbuildings. This trend indicates a robust demand for new vessels in the market, particularly among Greek owners.
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Strategic Growth for Maran Dry Management
For Maran Dry Management, this capesize order signifies a strategic return to an expansion phase after several years of cautious contracting. If all options are exercised, the Angelicoussis group could potentially add up to six new capesize vessels to its fleet later this decade. This expansion will bolster the company’s presence in key markets, particularly in the iron ore and coal trades, which are vital for global supply chains.
As the maritime industry continues to evolve, Maran Dry’s latest orders reflect a proactive approach to fleet management and market positioning. The company’s renewed investment in capesize bulkers not only highlights its commitment to growth but also underscores the broader trends within the dry bulk sector as it adapts to changing regulations and market demands.
