Tsakos Group said to join Capesize newbuilding spree with China order

Shipbroking and market sources have linked the Greek major to a deal for two 181,000-dwt Capesize vessels at Hengli, with deliveries scheduled for 2028.

Tsakos Group, which has been approached for comment, has stayed out of the dry bulk newbuilding market for years, focusing instead on tankers and LNG carriers through publicly listed Tsakos Energy Navigation.

According to information on its website, the group oversees a fleet of 10 bulk carriers, ranging from Kamsarmax to Capesize tonnage, built between 2007 and 2023. Overall, the group operates a fleet of 111 vessels, including tonnage on order.

Strong Capesize interest

The Capesize bulk carrier newbuilding market has staged a strong rebound this year, with major Greek owners returning after years of limited activity.

Hengli has emerged as a key beneficiary of this trend, with Maran Dry, Alpha Bulkers, Enesel, Neda Maritime and Seanergy Maritime among those contracting tonnage at the yard. Other owners, including Navios Maritime Partners, Danaos Corp and Safe Bulkers, have also been active, albeit at different shipyards.

Xclusiv Shipbrokers noted in its latest weekly report that between January and May, a total of 153 bulk carriers were contracted, with an estimated aggregate value of around US$7Bn. Greek owners accounted for 35 vessels, representing approximately US$2Bn in value.

The brokerage added that Capesize vessels accounted for 12 new orders, alongside 13 Kamsarmax units, making them the most active segments.

“This underlines a forward-looking strategy aimed at positioning fleets for anticipated demand in major bulk trades, while also benefiting from economies of scale,” Xclusiv explained.

As of late May, the Capesize orderbook-to-fleet ratio stood at just over 15% in dwt terms.