Traditional Greek shipowner Angelakos (Hellas) is accelerating its fleet renewal strategy, launching its fifth newbuilding program while divesting older vessels.
Angelakos (Hellas) recently disclosed its order status via social media, stating that it has ordered eight environmentally friendly 82,000 dwt Kamsarmax bulk carriers. The new vessels, jointly built by Nantong COSCO KHI Ship Engineering (NACKS) and Dalian COSCO KHI Ship Engineering (DACKS), are scheduled for delivery between 2025 and 2028.
It is understood that before August last year, Angelakos has ordered three Kamsarmax bulk carriers each from NACKS and DACKS respectively, all of which are scheduled to be delivered in 2026. All six new vessels will be flying the Cyprus flag.
Angelakos’ latest announcement means two more new vessels have been added. This brings the number of new vessels ordered from NACKS and DACKS to eight.
The Greek owner said its advancing newbuilding program recently achieved a key milestone when NACKS held a steel cutting ceremony for a newbuilding vessel (NE485), which is expected to be delivered later this year.
It is reported that Kamsarmax bulk carriers are still the first choice of Greek shipowners in the bulk carrier newbuilding and second-hand vessel market.Xclusiv Shipbrokers data show that the Greek dry bulk carrier order book is currently 169 vessels, of which the Kamsarmax and Panamax vessels account for as much as 55%.
Angelakos is focusing on modernizing its fleet while retiring older vessels. In the past year, the shipowner sold three Panamax bulk carriers built between 2002 and 2005. The three vessels are Graecia Universalis, Asia Graeca and Adriatica Graeca, which were renamed Ratga, Dolphin 77 and Yu Xiao 3 respectively.
Angelakos currently operates a fleet of 12 bulk carriers, including 10 Kamsarmax bulk carriers and two Ultramaxes, with the oldest one built in 2014. The company has one of the youngest Panamax fleets in the industry, with an average age of just over four years.