The Apeejay shipping company led by Sumant Ahlawat has restructured its dry bulk fleet, opting for larger units even at the expense of raising the overall age of its fleet.
Last week, Greece’s Star Bulk announced a series of vessel sales. Apeejay Shipping, one of India’s oldest shipping companies, has now been confirmed as the buyer of some of those ships, paying $22.84 million for the 183,000-dwt sister ships Estrella Danai and Estrella Georgia, both built in Japan. One ship was added in May and another in August, according to VesselsValue.
The acquisitions are the company’s first purchases of 2025 and mark a shift towards higher-capacity tonnage. However, the move has not improved the Indian owner’s fleet profile. Apeejay has quietly offloaded two supramaxes built by Cosco Guangdong, between 2009 and 2011, at a similar combined price.
With the transactions completed, Appeejay’s dry bulk arm now comprises nine vessels with an average age of 18 years, a slight increase from before the reshuffle.
Hans Henrik Thaulow is a journalist based in Oslo who has been covering the shipping industry for the past 15 years. In addition to some work for the Informa group, Hans was China correspondent for Tradewinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker with Simpson, Spence & Young in Hong Kong.
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August 15, 2025
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