Greek Shipowners Boost Orders at Hengli Heavy Industries

In a significant move for the maritime industry, two Greek shipping companies have placed new orders with Hengli Heavy Industries in China. The Dalian-based shipyard has confirmed contracts for five bulk carriers, valued at approximately $211 million, from Seanergy Maritime and Eastern Mediterranean Maritime (Eastmed). This development marks a pivotal moment for both companies as they seek to modernize their fleets and expand their operations.

Seanergy Maritime’s Fleet Renewal Strategy

Seanergy Maritime, under the leadership of CEO Stamatis Tsantanis, has made headlines by signing its first-ever shipbuilding contract. The company, known for its specialization in capesize vessels, has ordered a single 181,000 dwt unit from Hengli. This order represents a strategic shift for Seanergy, which has traditionally focused on acquiring secondhand ships. While specific delivery details and pricing have not been disclosed, this contract is a crucial step in the company’s fleet renewal strategy.

This new order follows a series of vessel disposals by Seanergy, which sold four capesize ships built between 2009 and 2011 earlier this year. As part of its modernization efforts, the company now operates a fleet of 20 vessels, including 18 capesizes and two newcastlemaxes, with an average age of around 14 years. The decision to invest in newbuildings reflects Seanergy’s commitment to enhancing its operational efficiency and competitiveness in the market.

Shandong Ocean Shipping taps Hengli Heavy for bulker pair

Eastmed’s Return to Newbuilding Market

Eastern Mediterranean Maritime (Eastmed), led by Thanasis Martinos, is also making waves in the shipping sector with its recent orders. The company has returned to the bulker newbuilding market after nearly a decade, having placed an order for four ultramaxes at Nantong Xiangyu in late 2023. The latest contract with Hengli includes four kamsarmax bulkers, marking Eastmed’s first significant bulker order at this shipyard.

Eastmed currently manages a diverse fleet of nearly 80 vessels across various segments. The company’s renewed interest in newbuildings signifies a strategic pivot as it seeks to expand its operations and modernize its fleet. The twin orders from Seanergy and Eastmed highlight Hengli’s growing prominence as one of China’s most active private shipyards. Since September, Hengli has secured over 30 newbuilding contracts across bulk carriers, tankers, and container vessels, with more than 70 ships currently under construction, with deliveries extending into 2029.

Additionally, other Greek shipping companies are also re-engaging with shipyards. Minoa Marine recently announced an order for an 82,000 dwt kamsarmax at Japan’s Oshima Shipbuilding, marking its entry into newbuilding projects with a scheduled delivery in the first quarter of 2028. This trend underscores a broader resurgence in the shipping industry as companies look to invest in modern vessels to meet future demands.

 

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