Meadway Bulkers expands orderbook with fresh single-vessel deal in Japan

The George Delaportas-led company has contracted Japan’s Imabari Shipbuilding to construct a 64,000-dwt vessel, scheduled for delivery in Q2 2027.

With this latest order, Meadway Bulkers’ newbuilding programme now comprises six vessels: four Ultramaxes and two Handysize bulk carriers. Three Ultramaxes are being built by Tsuneishi Shipbuilding, with deliveries expected through Q3 2026, while Namura Shipbuilding is constructing the two Handysize units, slated for delivery by Q1 2026.

According to the company’s website, Meadway Bulkers currently operates a fleet of 15 bulk carriers, most of which were built in Japan. In addition to its active newbuilding programme, the company has been a regular player in the sale and purchase market, often seizing opportunities for well-timed secondhand acquisitions.

Notably, in April 2021, it was announced that the Delaportas brothers would pursue separate paths in the shipping industry. The split followed the passing of their father, Dionysis Delaportas, founder of Meadway Shipping & Trading, who died in 2019.

George Delaportas took over Meadway Bulkers, while Costas Delaportas remained at the helm of Meadway Shipping & Trading, which has since rebranded as DryDel Shipping.

Greek owners and Japanese shipyards

The relationship between Greek shipowners and Japanese shipbuilders spans decades, with many collaborations across vessel types. Although Chinese yards have increasingly dominated Greek ordering preferences in recent years, some owners continue to favour Japan.

Among the prominent Greek shipping companies placing orders at Japanese yards are Alberta Shipmanagement, DryDel Shipping, Latsco, Safe Bulkers, and Samos Steamship.

According to BRS Shipbrokers, Japan remained the world’s third-largest shipbuilding nation in 2024, with an orderbook totalling 43M dwt, representing an 11% market share, down from 15% at the end of 2023. Bulk carriers dominate the country’s shipbuilding pipeline, accounting for 29M dwt, followed by tankers (8M dwt) and container vessels (5M dwt).