Greek shipowners are ramping up investments in Chinese shipyards, with Goldenport doubling Ultramax orders and Nautilus entering the tanker market.
Greek Shipowners Make New Order Move to Chinese Shipyards
Shipping companies based in Greece continue their new ship investments in Chinese shipyards without slowing down. Goldenport Shipmanagement has doubled its order program for Ultramax bulk carriers, while Nautilus Management has entered the tanker segment for the first time by ordering an MR1 product tanker.
Led by John Dragnis, Goldenport Shipmanagement has ordered two additional 63,500 dwt Ultramax bulk carriers from Nantong Xiangyu Shipbuilding & Offshore Engineering in China. With this order, the company's total newbuilding program has reached four vessels, including the two ships ordered in June. All vessels are planned to be delivered in 2029.
According to industry sources, the unit cost of the first two ships ordered in June was approximately $35 million. If the new orders are realized at similar prices, the total value of the four-ship investment is expected to reach around $140 million.
Goldenport's move indicates that the company has shifted back to ordering newbuild dry bulk carriers after focusing on second-hand ship acquisitions in recent years. The company had previously placed an order for five Ultramax vessels at the same shipyard, with deliveries scheduled for 2023 and 2024. Additionally, it has also ordered three feeder container ships in China this year.
On the other hand, another Greek company, Nautilus Management, has also taken its first step into the tanker market. The company signed a contract with Wuhu Shipyard in China for one firm and one optional 41,000 dwt MR1 product/chemical tanker. The delivery of the vessels is anticipated between the third quarter of 2028 and the beginning of 2029.
The tankers, which will have the SDARI 41 design, are reported to be built with advanced technical equipment, such as vapor recovery and stern line systems, that will meet the inspection standards of major oil companies.
The latest orders reveal that Greek shipowners are increasing their investments in Chinese shipyards in 2026 and are continuing their fleet renewal strategies in both the dry bulk and tanker segments.
Source: SeaNews Türkiye
