Recently, Greek shipowner Angelakos(Hellas) has further advanced its fleet renewal strategy by ordering two 82,000 DWT Kamsarmax bulk carriers from two Chinese shipyards (Nantong COSCO KHI Ship Engineering and Dalian COSCO KHI Ship Engineering), increasing its total orders from the two Chinese shipyards to eight ships. The new ships are scheduled for delivery between 2025 and 2028.

Angelakos(Hellas) is one of the leading Panamax operators in the West with over 55 years of operational experience, mainly engaged in dry bulk transportation business. According to Equasis information, Angelakos(Hellas) currently operates a fleet of 12 bulk carriers, with the oldest vessel built in 2014.

Fifth Newbuilding Plan

According to Angelakos(Hellas), the new orders mark the beginning of the company's fifth newbuilding plan. In addition to the two new ships, other recent new orders include (compiled based on publicly available information):

In August and October 2024, Angelakos(Hellas) ordered three Kamsarmax bulk carriers each from Nantong COSCO KHI Ship Engineering and Dalian COSCO KHI Ship Engineering. These vessels are all scheduled for delivery in 2026. It is reported that the new ships will integrate the most advanced shipbuilding technology and equipment, featuring prominent advantages such as safety, economy, greenness, and intelligence. The main engine selection and power have been optimized, equipped with an intelligent energy efficiency management system independently developed by the shipyard, capable of achieving functions such as performance analysis, route optimization, and auxiliary operation.

In August 2024, Angelakos(Hellas) ordered two 40,400 DWT Supramax bulk carriers from Jiangsu Dajin Heavy Industry, with expected delivery in 2025.

Old Friends of Chinese Shipyards

According to the company's introduction, it owns one of the youngest fleets in this field, with an average age of only four years and more, and these vessels are all built by top-tier shipyards.

It is not difficult to find from sorting out that, except for the two vessels built in 2014, all other ten vessels in its current fleet were ordered from Chinese shipyards:

In 2013, Angelakos placed an order for four 64,000 DWT Ultramax bulk carriers at Yangzhou Dayang Shipbuilding. Two of them were delivered in 2015 and 2016 respectively. This order was Angelakos(Hellas)'s first ship order from a Chinese shipyard.

In August 2017, Angelakos(Hellas) ordered 2+2 82,000 DWT Kamsarmax bulk carriers from Jiangsu Xinyangzi Shipbuilding, a subsidiary of Yangzi Jiang Shipbuilding. The vessels were delivered in 2019. These Kamsarmax bulk carriers will be built according to the IMO Tier II emission standards. Thereafter, Angelakos(Hellas) ordered another four 82,000 DWT Kamsarmax bulk carriers from Yangzi Jiang Shipbuilding. The first eight series ships were delivered in May 2019.

Popularity of Kamsarmax Ships Among Greek Shipowners

Kamsarmax-type ships mainly refer to those larger than Panamax but with a total length less than 229 meters. This type of ship is designed based on the largest bulk carrier that can enter the Kamsar Port (located in Guinea, mainly used for loading and unloading bauxite), hence called Kamsarmax-type.

It is understood that Kamsarmax-type ships remain the preferred asset category for Greek shipowners in both the newbuilding and secondhand bulk carrier markets. According to data from shipping broker Xclusiv Shipbrokers, Greek shipowners' dry bulk carrier orders currently amount to 169 vessels, with Kamsarmax/Panamax-type ships accounting for 55% of the total orders. Prominent shipowners include Sea Traders under Greek ship tycoon George J.Procopiou, Laskaridis Maritime, Neda Maritime, Lavinia Bulk, Diana Shipping, Star Bulk, Centrofin Management, Veritas Ship Management, Sea Pioneer Shipping, etc.

Regarding shipyard order backlog, Chinese shipyards dominate the Kamsarmax bulk carrier market, with major builders including Hengli Heavy Industry, Xinhangtong Shipbuilding, CSSC Chenchengxi, Nantong COSCO KHI Ship Engineering, etc.

Original article: https://www.toutiao.com/article/7495978604581454345/

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