Greek dry bulk carrier owner Iolcos Hellenic Maritime has placed an order with Sumec Marine’s New Dayang Shipyard for the construction of two 82,000 dwt Kamsarmax bulk carriers.
The newbuildings are scheduled for delivery in 2029 and will become the first vessels in Iolcos’ fleet to be equipped with scrubbers. Both ships will use conventional fuel and will be built in compliance with the International Maritime Organization (IMO) Energy Efficiency Design Index (EEDI) Phase 3 requirements and Tier III nitrogen oxide emission standards.
Industry sources estimate the unit price at approximately $37 million, bringing the total transaction value to around $74 million (approximately RMB 500 million). For reference, Clarksons data shows that the current newbuilding price for an 82,000-84,000 dwt Kamsarmax bulk carrier is $37.5 million (approximately RMB 254 million), a slight increase compared to $36.5 million in the same period last year.
The latest order is part of Iolcos’ steady strategy to renew and expand its fleet. As an owner known for its conservative operational approach, Iolcos has maintained stable long-term cooperation with global major grain traders and has generally been cautious in fleet expansion.
Notably, Iolcos signed its first order for two Ultramax bulk carriers with Nantong Xiangyu Shipbuilding last year. The new vessels are scheduled for delivery in the fourth quarter of 2027 and the first quarter of 2028, respectively. All cargo holds will feature a double-layer 25-ton steel coil reinforced structural design to enhance steel transportation capacity.
This Ultramax bulk carrier order also marks Iolcos’ first entry into a new vessel type. Previously, the company’s fleet was primarily concentrated on bulk carriers in the 75,000 to 87,000 dwt range. The company currently operates 18 bulk carriers of this category, built between 2006 and 2023, with an average age of 13 years.
For Sumec Marine, the latest order represents a rare Kamsarmax bulk carrier order in recent years. According to Clarksons data, Sumec Marine’s last Kamsarmax bulk carrier order dates back to August 2023, when Cido Shipping ordered four newbuildings, all of which were delivered in the first quarter of this year.
Including the latest order, Clarksons data shows that as of now, Sumec Marine’s New Dayang Shipyard holds an orderbook totaling 88 vessels amounting to 5.13 million dwt, comprising 64 bulk carriers, 14 container ships, 6 multi-purpose vessels, and 4 tankers, with delivery schedules extending to 2030.
