Greece’s Newport is set to expand its fleet of Japanese-built bulk carriers with its inaugural newbuilding project for three kamsarmaxes.
Brokers tell Splash the George Chatzis-led owner has quietly finalised a deal with Oshima Shipyard in Japan for delivery of three 82,000 dwt newbuilds in 2025 and 2026. No price has been revealed.
The Piraeus-based outfit set up two decades ago is listed with 17 owned bulkers constructed across Japanese yards and affiliates in China and the Philippines. Together with Grehel Shipmanagement, established in 2019, the operation manages around 30 vessels.
As for Oshima, the builder has seen several bulker orders coming in from the likes of Hayfin Capital Management for a pair of 100,000 dwt post-panamaxes, while Taiwanese owner and operator Shih Wei Navigation and Greece’s Samos Steamship each contracted an ultramax and kamsarmax, respectively.
When does an Panamax or L.G.N. Owner become insolvent?