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Aegean Bulk Places New Order for Four Kamsarmax Vessels at China’s Hengli Shipbuilding
Aegean Bulk is returning to the global newbuilding arena after nearly a decade and a half, launching a fresh fleet expansion programme with four kamsarmax carriers at China’s rapidly growing Hengli Shipbuilding. The new order signals renewed confidence in long-term bulk demand and the strengthening fundamentals of international sea freight trades.
A Strategic Comeback After 15 Years
The Athens-based owner — led by Panagiotis and George Angelopoulos — has maintained a steady presence in the supramax and kamsarmax segments, operating a compact fleet of modern bulkers. However, the company had paused newbuilding investments since its last kamsarmax deliveries in 2012, choosing instead to navigate fluctuating freight markets before committing to fresh tonnage.
With market stability returning and tonne-mile demand improving across major sea freight corridors, Aegean Bulk is now positioning itself for the next cycle.
Hengli Shipbuilding Continues Its Ascent
Hengli Shipbuilding confirmed that the new order is part of a wider eight-vessel contracting round involving multiple Greek and Norwegian owners.
The yard’s latest package includes:
- LR2 tankers for Capital Maritime
- Five kamsarmax bulkers (four for Aegean Bulk)
- One capesize vessel for a major international owner
Delivery of the new kamsarmax units is expected toward late 2027, extending Hengli’s forward book into 2029 and reinforcing its status as one of China’s most active shipbuilders.
Renewed Activity Across the Angelopoulos Network
Aegean Bulk’s move mirrors the renewed investment trend within the Angelopoulos shipping portfolio. Arcadia Shipmanagement, the group’s tanker arm, returned to the shipyards in 2023 with orders for new suezmax and aframax units after a long break, indicating a broader strategic repositioning across their maritime assets.
Norwegian investment house Uthalden Maritime has also appeared among Hengli’s latest customers, further highlighting international appetite for modern, IMO-compliant bulk carriers.
Modern Tonnage to Support Future Trade Patterns
The rise in demand for fuel-efficient kamsarmax vessels comes as global grain, coal, and minor bulk trades remain strong. Shipowners worldwide are seeking versatile assets capable of serving both short-haul and long-haul deep-sea freight routes with reduced emissions and improved operating efficiency.
Hengli Heavy Industry, the parent group, has accelerated its growth by securing more than 30 vessel construction starts last year and multiple series of new contracts from well-known names such as Eastmed, Vogemann, Efnav and Star Bulk Carriers.
Outlook for the Bulk and Sea Freight Markets
Aegean Bulk’s latest order strengthens its position ahead of what many analysts expect to be a period of rising demand for modern mid-size bulkers. With decarbonisation rules tightening and older vessels exiting the market, operators with new, efficient kamsarmaxes will be better positioned to capture global sea freight opportunities.
