Star Bulk Carriers Expands Fleet with New Orders
Star Bulk Carriers, a prominent Greek dry bulk shipping company, has made headlines by placing a significant order for new vessels at Hengli Shipbuilding in China. The Nasdaq-listed firm has committed to acquiring up to six kamsarmaxes, including four firm orders and two optional vessels, all equipped with scrubbers. The expected delivery dates for these ships are set for 2026 and 2027, marking a strategic move in the company’s fleet expansion efforts.
Details of the New Orders
According to sources in Greece, the deal involves the construction of six 82,000 deadweight tonnage (dwt) vessels, with each ship priced between $36 million and $38 million. This pricing aligns with recent contracts from other Greek shipping companies, such as Efnav, which has also been active in the newbuilding market. Star Bulk Carriers, led by CEO Petros Pappas, already has five kamsarmaxes on order at CMI Qingdao Shipyard, scheduled for delivery in 2026. This latest order reflects the company’s ongoing strategy to modernize and expand its fleet.
In recent months, Star Bulk Carriers has primarily focused on selling vessels, having disposed of over ten supramaxes and two kamsarmaxes built in 2006. This shift in strategy indicates a deliberate effort to reshape its fleet profile, aligning with market demands and operational efficiencies. The company currently controls more than 140 bulk carriers, positioning itself as a significant player in the dry bulk shipping sector.
Greek Shipping Dominance in Kamsarmax Orders
The Greek shipping industry has shown remarkable activity in the kamsarmax newbuilding market throughout 2025. Hengli Shipbuilding has emerged as a leading shipyard for these fresh orders, attracting several prominent Greek owners. Following Star Bulk’s recent deal, Efnav, led by Filippos Efstathiou, has also signed contracts for six new vessels. Additionally, Thanasis Martinos’ Eastmed has ordered four ships, while Centrofin Management, under the leadership of Dimitris Procopiou, has expanded its orderbook at Hengli to eight vessels.
This surge in newbuilding activity underscores the competitive landscape among Greek shipping companies, as they seek to enhance their fleets amid evolving market conditions. The focus on kamsarmax vessels, known for their efficiency and versatility, reflects a broader trend within the industry aimed at meeting increasing global shipping demands.
