Greece's Cape Shipping shifts newbuilding focus to dry bulk with Capesize pair at Hengli

The Greek owner has placed an order for two Capesize bulk carriers at China’s Hengli Heavy Industries, with deliveries scheduled through Q2 2028. Shipbroking and market sources indicate that the order was placed a few months ago.

Cape Shipping joins a growing list of Greek owners contracting Hengli Heavy Industries for Capesize tonnage this year. Just this week, Riviera reported that Tsakos Group had signed up for a pair of vessels, following similar orders by Maran Dry, Alpha Bulkers, Enesel, Neda Maritime, and Seanergy Maritime, among others.

For Cape Shipping, the latest order further advances the renewal of its dry bulk fleet following the disposal of 2006-built Newcastlemax Cape Kensington, which changed hands in Q1 2026.

Between 2020 and 2023, the group renewed its focus on the Capesize segment through a series of secondhand acquisitions.

Cape Shipping’s active fleet comprises six bulk carriers built between 2007 and 2012, along with seven container vessels built between 2015 and 2021.

The company also has a pair of 3,200-teu container ships on order at New Dayang Shipbuilding, with deliveries scheduled for 2028.

Aggressive tanker expansion

The group has attracted significant attention over the past two years as it re-entered the tanker market through an extensive newbuilding programme.

Cape Maritime Corporation, which manages the group’s tanker activities, has taken delivery of part of its orderbook and now operates two MR2 tankers and four Aframax/LR2 vessels.

In addition, the company has two Suezmax tankers on order at CSSC’s Shanghai Waigaoqiao Shipbuilding (SWS), scheduled for delivery this summer. It also has a pair of LR1 tankers under construction at Yangzijiang Shipbuilding for delivery in 2027, as well as two VLCCs on order at CSSC Qingdao Beihai, which are due for delivery by Q1 2029.