Drydel Shipping

Athens-based shipowner and operator DryDel Shipping, previously trading as Meadway Shipping and Trading (MST), has marked the start of the Posidonia newbuilding rush with a three-ship order in Japan, further expanding one of the most active Greek dry bulk fleet renewal programmes of recent years. Greek Costas Delaportas-led shipowner and operator DryDel Shipping has lifted DryDel Shipping’s newbuilding pipeline to around 20 ships over a four-year period, reinforcing DryDel Shipping’s long-term commitment to modern Japanese-built bulk carrier tonnage. Athens-based shipowner and operator DryDel Shipping moved early in the wave of newbuilding announcements that Greek shipowners traditionally like to complete and publicise around Posidonia, which officially opens on 1 June 2026. Bulk carrier specialist DryDel Shipping has booked another group of bulk carriers at several Japanese shipyards, adding three more ships to DryDel Shipping’s already extensive newbuilding programme and underlining DryDel Shipping’s confidence in the long-term dry bulk market. DryDel Shipping’s latest orders continue the expansion of a fleet strategy built around renewal, efficiency, and disciplined exposure to the dry bulk sector. DryDel Shipping has been placing emphasis on Japanese shipbuilding quality, modern eco-design specifications, and ships capable of competing in a market where charterers increasingly focus on fuel performance, reliability, emissions standards, and long-term operating economics. The latest three-ship order shows that DryDel Shipping is not simply adding capacity, but is continuing to shape a younger and more efficient fleet that can serve major dry bulk trades across global routes. DryDel Shipping’s background as Meadway Shipping and Trading (MST) gives DryDel Shipping a long commercial history in dry bulk shipping, while the DryDel Shipping name reflects a more recent stage in the development of the group under Costas Delaportas. The transformation from Meadway Shipping and Trading (MST) to DryDel Shipping has been accompanied by a visible newbuilding campaign, with DryDel Shipping moving decisively into modern bulk carrier investment. This shift is important because dry bulk shipping is a highly cyclical business, and successful shipowners often try to combine market timing, fleet age management, chartering discipline, and asset quality. By building a large newbuilding programme over several years, DryDel Shipping is positioning DryDel Shipping for future cargo demand while also replacing or supplementing older tonnage with more competitive ships. DryDel Shipping’s preference for Japanese shipyards is also commercially significant. Japanese-built bulk carriers are widely valued in the dry bulk market for construction quality, durability, fuel efficiency, and strong secondhand-market acceptance. For shipowners such as DryDel Shipping, ordering in Japan can support long-term asset value and charterer confidence, especially in segments where technical reliability and operating efficiency are important. Japanese shipyards have a long reputation for producing high-quality handysize bulk carriers, supramax bulk carriers, ultramax bulk carriers, kamsarmax bulk carriers, and other dry bulk ship types used across commodity trades. DryDel Shipping’s newbuilding programme therefore fits a wider Greek shipowner preference for reliable shipyards and well-regarded designs. The additional three ships also strengthen DryDel Shipping’s exposure to core dry bulk cargo flows. Bulk carriers are essential for transporting raw materials and industrial commodities such as iron ore, coal, grains, bauxite, fertilisers, steel products, cement, minerals, and minor bulks. These cargoes support construction, agriculture, power generation, manufacturing, steel production, and infrastructure development. A larger and more modern fleet gives DryDel Shipping more flexibility to serve different trades, charterers, ports, and cargo systems. In a market where freight rates can change quickly because of commodity demand, port congestion, ship availability, weather disruption, and geopolitical developments, fleet quality and commercial flexibility can become important advantages. DryDel Shipping’s newbuilding programme reaching around 20 ships in four years also highlights the scale of DryDel Shipping’s ambition. For a privately controlled Greek dry bulk shipowner and operator, such a programme represents a major capital commitment and a clear statement about future market expectations. Newbuildings require long planning, yard selection, financing, design decisions, supervision, and delivery management. The decision to continue ordering suggests that DryDel Shipping sees value in securing modern ships despite uncertainty over freight cycles, new environmental rules, interest rates, and global commodity demand. DryDel Shipping appears to be using the current period to build a fleet that can remain commercially relevant over the next decade rather than relying only on short-term market opportunities. The timing around Posidonia is also important. Posidonia is one of the most important events in the Greek and international shipping calendar, and Greek shipowners often use the period to announce orders, financing deals, fleet transactions, partnerships, and strategic moves. DryDel Shipping’s three-ship order in Japan therefore carries symbolic weight because DryDel Shipping is opening the newbuilding conversation at a time when shipowners, shipyards, financiers, brokers, charterers, and maritime service providers are focused on the future direction of shipping. The announcement reinforces DryDel Shipping’s profile as an active Greek dry bulk owner willing to commit capital to fleet renewal during a period of changing market conditions. DryDel Shipping’s strategy also reflects the growing importance of environmental performance in dry bulk shipping. New bulk carrier designs are increasingly expected to deliver lower fuel consumption, improved emissions profiles, and better compliance with international environmental standards. Charterers are paying closer attention to carbon intensity, voyage efficiency, and the operating cost of ships. Modern ships can offer advantages over older tonnage through reduced fuel burn, lower maintenance needs, and stronger suitability for long-term employment. For DryDel Shipping, a younger and more efficient fleet can help DryDel Shipping compete for quality charter business and protect DryDel Shipping’s position as environmental and commercial expectations continue to rise. At the same time, DryDel Shipping’s continued investment in newbuildings shows confidence in the underlying role of dry bulk shipping in global trade. The dry bulk sector remains central to the movement of the raw materials that support industrial production and food supply. Even as the energy transition changes some cargo patterns, demand for grains, minerals, construction materials, steel-related cargoes, bauxite, and other bulk commodities continues to support the need for efficient dry bulk transportation. DryDel Shipping’s expanded newbuilding programme suggests that DryDel Shipping expects modern bulk carriers to remain valuable assets in this evolving trade environment. DryDel Shipping’s latest Japanese orders therefore represent more than a simple fleet addition. They show a deliberate strategy built around modern tonnage, Japanese shipbuilding quality, fleet renewal, and long-term dry bulk exposure. Under Costas Delaportas, DryDel Shipping has become one of the Greek names most closely associated with an active newbuilding push, and the latest three-ship order further strengthens that position. By adding more bulk carriers to a programme that has already grown to around 20 ships in four years, DryDel Shipping is using the Posidonia period to signal scale, confidence, and a clear commitment to the future of dry bulk shipping. 1-June-2026

Athens-based shipowner and operator DryDel Shipping, which previously traded under the name Meadway Shipping and Trading (MST), has strengthened DryDel Shipping’s Japanese newbuilding programme with three more bulk carrier newbuildings, further confirming DryDel Shipping’s long-term preference for high-quality Japanese-built dry bulk tonnage. Greek shipowner and operator DryDel Shipping has added fresh depth to DryDel Shipping’s newbuilding pipeline in Japan after signing contracts for three additional bulk carrier newbuildings across the kamsarmax bulk carrier and ultramax bulk carrier sectors. Costas Delaportas-led shipowner and operator DryDel Shipping said the new orders comprise one 82K DWT kamsarmax bulk carrier newbuilding at Shin Kurushima Dockyard, scheduled for delivery in 2028, and two 64K DWT ultramax bulk carrier newbuildings at Nihon Shipyard and Oshima Shipyard, due for delivery in 2029 and 2030, respectively. DryDel Shipping said all three bulk carriers will be constructed to IMO (International Maritime Organization) Tier III and Phase 3 environmental standards and will feature next-generation “super eco” designs developed to lower fuel consumption, improve operating performance, and reduce emissions. The latest contracts further strengthen Greek shipowner and operator DryDel Shipping’s long-established focus on Japanese-built ships, a policy that has become one of the clearest features of DryDel Shipping’s modern fleet strategy. Since 2021, Athens-based shipowner and operator DryDel Shipping has ordered more than 20 bulk carrier newbuildings exclusively from Japanese shipyards, covering ship types from handysize bulk carriers to capesize bulk carriers. DryDel Shipping has also accepted delivery of 10 Japanese-built bulk carriers since 2024, showing that DryDel Shipping’s orderbook is already translating into a major fleet transformation rather than remaining only a future expansion plan. DryDel Shipping’s most recent newbuilding move before the latest contracts came late last year, when DryDel Shipping ordered two capesize bulk carrier newbuildings at Namura Shipbuilding, marking an important expansion into larger dry bulk tonnage. On the sale side, several handysize bulk carriers and ultramax bulk carriers were sold in 2025 and in Q1 2026, showing DryDel Shipping’s readiness to reshape the fleet through both disposals and new orders instead of simply adding ships without considering fleet balance. After the latest agreements, DryDel Shipping’s forward orderbook now totals 11 bulk carriers with combined carrying capacity of more than 1.2 million DWT. DryDel Shipping Chief Executive Officer Costas Delaportas said DryDel Shipping remains committed to Japanese shipbuilding as part of a long-term fleet plan rather than a short-term expansion campaign. DryDel Shipping Chief Executive Officer Costas Delaportas said DryDel Shipping continues to invest exclusively in Japanese shipbuilding with a long-term view and strong confidence in the quality and excellence that Japanese shipyards consistently provide. DryDel Shipping Chief Executive Officer Costas Delaportas said this is not merely an investment policy for DryDel Shipping, but a long-running partnership based on mutual trust and shared values built over many years. DryDel Shipping also said DryDel Shipping’s focus remains on developing a modern and commercially competitive fleet rather than pursuing size alone. DryDel Shipping Chief Executive Officer Costas Delaportas said DryDel Shipping’s objective is not growth for the sake of growth, but the creation of a modern, efficient, and commercially competitive fleet that delivers lasting value for charterers and partners worldwide. DryDel Shipping’s background is important because DryDel Shipping’s current strategy continues the development of a shipping platform with roots in Meadway Shipping and Trading (MST). DryDel Shipping Inc. was established in 1988 as Meadway Shipping and Trading Inc., and the business later evolved into DryDel Shipping under the leadership of Costas Delaportas. The move from Meadway Shipping and Trading (MST) to DryDel Shipping created a separate identity while preserving the dry bulk experience, chartering culture, and commercial relationships developed over many years. DryDel Shipping has become recognised as a Greek dry bulk shipowner and operator focused on modern Japanese-built ships, disciplined chartering, hands-on fleet management, and long-term partnerships across international dry bulk trades. DryDel Shipping’s operating base extends beyond ship ownership. DryDel Shipping maintains an international presence through offices in Athens, Singapore, Dubai, and Houston, giving DryDel Shipping commercial access across major dry bulk regions and time zones. This worldwide office network is important because dry bulk shipping operates continuously and is shaped by cargo enquiries, ship positions, charter negotiations, port developments, weather delays, bunker costs, commodity demand, and changing route economics. By maintaining offices in several strategic locations, DryDel Shipping can stay closer to charterers, brokers, cargo interests, and market opportunities. DryDel Shipping’s presence in Singapore is particularly important because Singapore is one of the world’s leading dry bulk, bunkering, finance, and maritime centres, while Dubai and Houston provide further exposure to energy, commodities, and regional trade flows. DryDel Shipping’s fleet policy is built around quality, efficiency, and reliability rather than simple numerical growth. DryDel Shipping’s preference for Japanese-built ships reflects DryDel Shipping’s view that Japanese shipyards provide strong construction quality, fuel-efficient designs, dependable performance, and solid long-term resale value. In dry bulk shipping, Japanese-built bulk carriers are often highly regarded by charterers, financiers, and secondhand buyers because of their construction standards, machinery reliability, cargo-handling performance, and long operating lives. DryDel Shipping’s exclusive newbuilding focus on Japanese shipyards therefore supports both operational reliability and asset-value protection. DryDel Shipping’s focus on “super eco” designs also has clear commercial value. Dry bulk charterers increasingly examine ships according to fuel consumption, emissions profile, regulatory readiness, speed and consumption performance, technical reliability, and suitability for longer-term employment. Ships built to IMO (International Maritime Organization) Tier III and Phase 3 standards can offer better environmental performance and stronger compliance positioning as emissions regulations become more demanding. DryDel Shipping’s investment in these designs helps DryDel Shipping prepare for a market in which efficient ships may secure better employment opportunities, while older and less efficient ships may face weaker demand or higher operating pressure. DryDel Shipping’s investment across several ship sizes also shows a deliberate fleet-balancing strategy. Handysize bulk carriers, ultramax bulk carriers, kamsarmax bulk carriers, and capesize bulk carriers serve different cargoes, routes, ports, and chartering patterns. Handysize bulk carriers offer strong port access and flexibility for smaller cargo parcels. Ultramax bulk carriers provide geared flexibility and are widely used for grains, coal, minor bulks, fertilisers, steel products, and other cargoes. Kamsarmax bulk carriers offer efficient cargo intake and strong employment potential in grain and coal trades. Capesize bulk carriers are central to large-volume iron ore and coal transportation on long-haul routes. By investing across these ship types, DryDel Shipping gives DryDel Shipping more flexibility to respond to changing cargo demand and freight cycles. DryDel Shipping’s move into capesize bulk carriers through the Namura Shipbuilding order was especially notable because capesize bulk carriers represent a larger and more volatile dry bulk segment than smaller dry bulk ships. Capesize bulk carriers can benefit strongly when iron ore and coal demand is firm, but capesize bulk carriers also require careful timing, strong chartering discipline, and the ability to manage larger exposure to freight-market swings. DryDel Shipping’s decision to order capesize bulk carrier newbuildings in Japan demonstrates confidence in long-term dry bulk fundamentals and in Japanese shipbuilding quality for larger ships. DryDel Shipping’s additional kamsarmax bulk carrier and ultramax bulk carrier orders now broaden that strategy by strengthening the mid-size dry bulk segments where flexibility and cargo diversity remain important. DryDel Shipping’s use of both newbuilding orders and sale-and-purchase activity also shows that DryDel Shipping is actively managing fleet composition. Selling selected handysize bulk carriers and ultramax bulk carriers while ordering newer and more efficient ships enables DryDel Shipping to refresh the fleet age profile, realise value when asset markets are favourable, and move capital into ships that better match future commercial and environmental requirements. This kind of active asset management is important in dry bulk shipping because fleet value can change quickly with freight rates, newbuilding prices, secondhand values, and regulatory expectations. DryDel Shipping’s modern fleet profile is another important part of DryDel Shipping’s commercial identity. DryDel Shipping has been described as managing a modern fleet of Japanese-built dry bulk ships with a low average age, while also operating chartered-in ships across global dry bulk trades. This mix of owned and chartered-in tonnage can provide DryDel Shipping with useful flexibility. Owned ships provide asset exposure and long-term fleet control, while chartered-in ships can help DryDel Shipping respond to market opportunities without committing to permanent fleet expansion. DryDel Shipping’s ability to operate in both areas strengthens DryDel Shipping’s position as both shipowner and operator. DryDel Shipping’s chartering discipline is central to DryDel Shipping’s business model. Dry bulk markets are highly cyclical, and earnings can shift quickly because of commodity demand, port congestion, weather disruption, geopolitical events, bunker prices, fleet supply, and seasonal cargo flows. A shipowner and operator such as DryDel Shipping must decide when to seek period cover, when to trade in the spot market, when to charter in additional ships, when to sell older ships, and when to order new ships. DryDel Shipping’s recent activity points to a strategy built around modern tonnage, Japanese shipyard relationships, active fleet renewal, and measured exposure to changing freight-market opportunities. DryDel Shipping’s partnerships with Japanese shipyards are a major strategic strength. Shin Kurushima Dockyard, Nihon Shipyard, Oshima Shipyard, Namura Shipbuilding, Tsuneishi Shipbuilding, and other Japanese builders are associated with high-quality bulk carrier construction. DryDel Shipping’s repeated orders at Japanese shipyards suggest that DryDel Shipping values long-term relationships as much as pricing. Shipbuilding is not only a commercial transaction. A successful newbuilding programme requires design selection, technical specification, construction supervision, delivery timing, financing, class coordination, charterer acceptance, and post-delivery performance. DryDel Shipping’s repeated investment in Japan shows that DryDel Shipping is building on accumulated trust, technical familiarity, and consistent construction standards. DryDel Shipping’s Japanese newbuilding strategy also reflects a broader market view. In a dry bulk market where emissions rules are tightening and older ships face increasing pressure, modern fuel-efficient ships can become more valuable. Costas Delaportas has previously highlighted the advantages of fuel-efficient Japanese-built ships, with DryDel Shipping’s newbuilding programme focused on low-consumption, high-efficiency tonnage. This matters because fuel efficiency directly affects voyage economics, charterer interest, and long-term asset value. In a market where charterers are increasingly focused on emissions and operating costs, a modern Japanese-built bulk carrier can hold a stronger commercial position than an older ship with higher consumption. DryDel Shipping’s growth also reflects the continued strength of Greek shipowners in global dry bulk shipping. Greek owners have long been major participants in dry bulk, tanker, container, and gas carrier markets, often using strong sale-and-purchase judgement, deep chartering relationships, and long-term shipyard partnerships to build competitive fleets. DryDel Shipping fits within this tradition, but DryDel Shipping’s exclusive focus on Japanese newbuildings gives DryDel Shipping a distinct profile among Greek dry bulk owners. While some owners spread orders across Chinese, Japanese, and Korean yards, DryDel Shipping has made Japanese shipbuilding central to DryDel Shipping’s brand and fleet strategy. DryDel Shipping’s approach also shows how a mid-sized dry bulk operator can compete through quality and timing rather than fleet size alone. Large shipowners may have scale advantages, but a focused owner such as DryDel Shipping can move quickly, target specific ship types, maintain close shipyard relationships, and manage fleet quality carefully. DryDel Shipping’s orderbook of 11 bulk carriers with more than 1.2 million DWT shows that DryDel Shipping is not pursuing passive fleet ownership. DryDel Shipping is actively reshaping DryDel Shipping’s future fleet around efficiency, cargo flexibility, and long-term commercial relevance. DryDel Shipping’s international office network also supports DryDel Shipping’s ability to manage chartered-in tonnage and cargo flows across key regions. Dry bulk shipping requires constant communication with charterers, brokers, ship masters, port agents, bunker suppliers, technical teams, and counterparties. A global footprint helps DryDel Shipping remain responsive and commercially active. Athens provides DryDel Shipping’s main Greek shipping base, Singapore connects DryDel Shipping with Asian cargo and chartering markets, Dubai supports Middle East and regional commodity activity, and Houston gives DryDel Shipping a closer link to the Americas and energy-related cargo flows. DryDel Shipping’s strategy is also shaped by changing dry bulk demand. Coal, iron ore, grains, bauxite, fertilisers, petcoke, steel products, cement, and minor bulks all move in different trade patterns and respond to different economic drivers. Climate disruption, canal restrictions, geopolitical tension, energy security concerns, and infrastructure development can all change voyage distances and ship demand. By investing in multiple ship sizes and maintaining operating flexibility, DryDel Shipping can position DryDel Shipping to benefit from changing tonne-mile patterns. DryDel Shipping’s fleet renewal is especially relevant as older dry bulk ships face rising costs. Older ships may require more expensive maintenance, consume more fuel, face tougher inspections, and become less attractive to charterers with environmental requirements. By replacing or supplementing older tonnage with new Japanese-built “super eco” bulk carriers, DryDel Shipping can improve fleet competitiveness and reduce long-term operational risk. This is important because dry bulk earnings are not determined only by freight rates. Earnings are also affected by fuel costs, off-hire, maintenance, drydock planning, ship reliability, and charterer confidence. DryDel Shipping’s order at Shin Kurushima Dockyard for an 82K DWT kamsarmax bulk carrier strengthens DryDel Shipping’s position in a highly versatile segment. Kamsarmax bulk carriers are widely used in grain and coal trades and can offer strong economies of scale while remaining suitable for many ports. The two 64K DWT ultramax bulk carrier newbuildings at Nihon Shipyard and Oshima Shipyard add further geared flexibility. Ultramax bulk carriers are highly useful because onboard cranes allow cargo handling at ports with limited infrastructure, making ultramax bulk carriers valuable across many minor bulk, agricultural, and industrial trades. DryDel Shipping’s latest orders therefore give DryDel Shipping both scale and flexibility. DryDel Shipping’s emphasis on lasting value for charterers and partners is also important. In dry bulk shipping, charterers value ships that are efficient, reliable, well-managed, and commercially flexible. A modern fleet can reduce operational disruption, improve scheduling confidence, and support stronger environmental performance. DryDel Shipping’s message that growth is not pursued for its own sake is intended to show that the fleet is being developed with commercial purpose rather than simple expansion. This matters because uncontrolled growth can weaken returns if ships are ordered at the wrong time or if fleet quality is inconsistent. DryDel Shipping’s long-term partnership language also reflects the importance of trust in shipping. Shipowners rely on shipyards, financiers, charterers, brokers, technical suppliers, and crews. A strong relationship with Japanese shipyards can support better technical outcomes and delivery reliability. Strong relationships with charterers can support employment opportunities. Strong internal operating discipline can support fleet performance. DryDel Shipping’s focus on mutual trust and shared values shows that DryDel Shipping sees DryDel Shipping’s Japanese newbuilding programme as part of a long-term industrial strategy rather than a short-term asset play. The latest three-ship order therefore represents more than another addition to DryDel Shipping’s orderbook. The order reinforces DryDel Shipping’s identity as a Greek dry bulk shipowner and operator with a clear preference for Japanese-built tonnage, a modern fleet profile, an active sale-and-purchase strategy, and a disciplined approach to fleet renewal. For DryDel Shipping, the new kamsarmax bulk carrier and ultramax bulk carrier newbuildings will strengthen the fleet across two commercially important size classes. For Japanese shipyards, the orders confirm continued confidence from a repeat Greek customer. For charterers, the ships will add modern, efficient, environmentally compliant dry bulk capacity. For the wider dry bulk market, DryDel Shipping’s continued ordering in Japan shows that experienced owners still see value in selective investment in high-quality new tonnage, even in a market where fleet growth must be carefully balanced against future freight demand. 28-May-2026

Athens-based shipowner and operator Drydel Shipping, which previously operated under the name Meadway Shipping and Trading (MST), is continuing an active fleet reshaping drive as another ultramax bulk carrier moves closer to leaving the fleet, extending a disposal campaign that has materially transformed the composition of its owned tonnage and strengthened its position as one of the more commercially alert participants in the dry bulk sale and purchase market. The latest development follows market reports indicating that Costas Delaportas-led Drydel Shipping is divesting the 61,500 DWT ultramax bulk carrier MV Amore, built in 2012, to buyers in China, a transaction that would represent the fifth ultramax bulk carrier sale completed by Drydel Shipping since June 2025 and would push total proceeds from these ultramax bulk carrier disposals beyond $150 million in less than a year. That string of transactions highlights how Drydel Shipping has been converting mature tonnage into substantial liquidity during a firmer secondhand market while at the same time refining the age profile, earnings capacity, and commercial attractiveness of its controlled fleet. Earlier transactions in the same period showed that Drydel Shipping was not only offloading older ships but also capturing gains on younger units when market pricing made such moves financially compelling, demonstrating a management style focused on timing, asset value, and long-term fleet quality. The broader corporate background of Drydel Shipping helps place these sales in a clearer strategic framework. The business dates back to 1988 and formally adopted the Drydel Shipping identity in 2024, replacing the long-established Meadway Shipping and Trading (MST) name as part of a wider repositioning of the group. Since that transition, Drydel Shipping has continued to broaden its international presence and now describes itself as a dry bulk owner and operator with offices in Athens, Singapore, Dubai, São Paulo, and Houston, with an operating approach centred on disciplined chartering, close fleet supervision, durable commercial relationships, and an emphasis on safety, dependability, and sustainability. Drydel Shipping also presents its business as one that seeks to support environmental responsibility and the wider energy transition while maintaining high operational standards across the fleet. The current sale programme has also unfolded alongside a wider modernisation and growth strategy. Public information and market activity indicate that Drydel Shipping has been assembling one of the youngest dry bulk fleets in its peer group, with a focus on modern ships across the handysize, supramax, ultramax, and kamsarmax segments, while also adding newbuildings and chartered-in ships to expand its commercial reach. The company has repeatedly shown interest in high-quality Japanese-built or Japanese-linked tonnage, long-term employment structures, and forward fleet planning, including additional ultramax bulk carrier newbuilding commitments that underline a continuing belief in efficient, modern bulk carrier assets. This blend of profitable disposals, selective acquisitions, chartered growth, and newbuilding investment suggests that Drydel Shipping is not merely reducing exposure to older ships but is instead redesigning its fleet around younger, more fuel-efficient, and more regulation-ready ships capable of performing competitively across major dry bulk routes and cargo flows. Against that backdrop, the disposal of the oldest ship in the fleet is far more than an isolated sale. It represents another stage in a deliberate capital allocation policy through which Drydel Shipping is taking advantage of supportive secondhand pricing to recycle capital from ageing ultramax bulk carriers into newer assets, greater financial flexibility, and a fleet structure better suited to evolving commercial and environmental requirements. With dry bulk asset values remaining supportive into 2026, including firmer pricing for older bulk carriers in several segments, Drydel Shipping appears to have used this market phase effectively to secure gains while maintaining exposure to the sector through a younger, stronger, and more efficient fleet platform. Once this latest transaction is completed, Drydel Shipping will stand out with a significantly refreshed fleet, a wider international operating footprint, and an increasingly clear reputation for acting decisively whenever market conditions create an opening for both fleet renewal and value creation. 20-April-2026

Athens-based shipowner and operator Drydel Shipping, previously known as Meadway Shipping and Trading (MST), has completed yet another sharply timed bulk carrier asset trade, adding to the impression that the Greek dry bulk owner has developed into one of the more tactically astute players in its market segment. Greek shipowner and operator Drydel Shipping exercised a purchase option that had moved comfortably into profitable territory and then swiftly sold the ship on, converting a Japanese-ordered asset placed seven years ago into another successful commercial result. Costas Delaporta-led shipowner and operator Drydel Shipping disposed of 2021-built ultramax bulk carrier 64K DWT MV Ability to another Greece-based shipowner in a transaction reported at $37 million, with the ship due to undergo SS (special survey) in the summer of 2026. The sale represented Drydel Shipping’s fourth profitable ultramax bulk carrier transaction in less than a year, underlining how effectively the group has been using the S&P (Sale and Purchase) market not simply to rotate fleet positions, but to extract premium value from modern Japanese-built ships. The sale of ultramax bulk carrier MV Ability sits squarely within Drydel Shipping’s broader commercial blueprint. Drydel Shipping runs a modern super-eco fleet of Japanese-built dry bulk ships while also controlling a sizeable chartered-in fleet under long-term time charters, and at the same time the group is pushing ahead with an extensive newbuilding programme that signals continued expansion rather than restraint. That wider structure makes it clear that the disposal of ultramax bulk carrier MV Ability is not an isolated event, but part of a broader cycle of fleet renewal and capital redeployment intended to keep Drydel Shipping young, efficient, and commercially adaptable. This helps explain why Drydel Shipping has attracted rising attention across the dry bulk market. Drydel Shipping presents itself as a specialist operator centred on disciplined chartering, sophisticated fleet management, and durable relationships throughout the dry bulk sector, and its international presence now extends beyond Athens into other important commercial centres. That wider footprint shows that Drydel Shipping is no longer merely a traditional Greek shipowning house built around a single office and a limited owned fleet. Instead, Drydel Shipping is constructing a broader international platform with access to major freight and commodity hubs while preserving a clear focus on dry bulk shipping. The current identity of Drydel Shipping also reflects a deliberate repositioning of the business. Formerly known as Meadway Shipping and Trading (MST), the group adopted the Drydel Shipping name as part of a clearer strategic separation and a more distinct commercial profile under Costas Delaporta’s leadership. Since that shift, Drydel Shipping has become noticeably more assertive in its ordering activity, particularly in Japanese-built dry bulk newbuildings, while also broadening its ambitions into larger ship categories. In that setting, the sale of ultramax bulk carrier MV Ability appears entirely consistent with the way Drydel Shipping is reshaping its fleet. Drydel Shipping is not simply retaining ships for predictable long-term income. It is actively combining ownership, chartering, newbuilding investment, and carefully judged disposals in order to improve fleet quality, lower average age, and capture upside whenever secondhand prices for modern ships strengthen. That strategy has become especially relevant in a market where demand for young geared bulk carriers remains firm and where owners with access to modern Japanese-built eco tonnage are often able to secure strong valuations. Drydel Shipping therefore seems to be using the S&P (Sale and Purchase) market as a core fleet-management mechanism rather than merely as an outlet for ageing assets. The reported $37 million deal also highlights Drydel Shipping’s sense of timing. By exercising an in-the-money option and then moving quickly to sell the ship, Drydel Shipping demonstrated that it is willing to realise value even from relatively young ships when pricing makes the decision compelling. That kind of move requires confidence not only in prevailing asset levels, but also in the quality and depth of the replacement pipeline. With a substantial newbuilding programme already in motion, Drydel Shipping appears well placed to continue selling selected modern ships without weakening the overall competitiveness of the fleet. On the contrary, each profitable disposal can help fund the next stage of growth, improve financial flexibility, and further refine the profile of the ships that remain in operation. Taken together, the sale of ultramax bulk carrier MV Ability adds another chapter to Drydel Shipping’s increasingly recognisable commercial model: acquire and build quality Japanese tonnage, operate it efficiently, and sell when values offer an attractive return. For a group that has rebranded, expanded internationally, invested heavily in newbuildings, and entered multiple dry bulk size segments while maintaining a strong preference for modern eco designs, this latest transaction is about much more than a single profitable ship flip. It is further evidence that Drydel Shipping is evolving into a highly active, internationally focused, and strategically disciplined dry bulk owner with the confidence to trade ships as decisively as it orders them. 7-April-2026

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), has intensified its push into larger dry bulk tonnage by doubling down on capesize bulk carrier newbuildings, signalling that Greek shipowner and operator Drydel Shipping is committed to scaling up its presence in the big-ship segment through a carefully sequenced Japanese newbuilding programme. Greek shipowner and operator Drydel Shipping has now agreed contracts for two additional capesize bulk carriers at Namura Shipbuilding, deepening a relationship that Drydel Shipping has repeatedly highlighted as central to its fleet-development strategy and reinforcing the view that Drydel Shipping prefers the consistency, build quality, and project execution discipline typically associated with leading Japanese shipyards. The latest transactions lift Drydel Shipping’s capesize bulk carrier orderbook to four ships, all under construction at Namura Shipbuilding, and the clustered placement indicates that Drydel Shipping is building a standardised capesize bulk carrier platform designed to optimise operational consistency, spares planning, and performance benchmarking across the fleet as Drydel Shipping expands. Athens-based shipowner and operator Drydel Shipping placed its first-ever capesize bulk carrier order in Q4 2024, booking a pair of 182,000 DWT capesize bulk carriers scheduled for delivery in 2028, a milestone that marked Drydel Shipping’s formal entry into the capesize bulk carrier segment and underscored a broader strategic shift toward larger bulk carriers as part of Drydel Shipping’s longer-term growth plan. Drydel Shipping confirmed that two additional 82,000 DWT capesize bulk carriers have now been agreed, with the most recent contract signed in 2025 following a third newbuilding deal in July 2025, and delivery of the latest capesize bulk carrier is set for 2029, extending Drydel Shipping’s visibility on fleet growth beyond the near-term cycle and illustrating how Drydel Shipping is pacing deliveries to align with future market windows. The capesize bulk carrier newbuilding specification also reflects Drydel Shipping’s emphasis on efficiency and compliance: the ships are planned with scrubbers and Tier III, EEDI Phase 3-compliant engines, pointing to Drydel Shipping’s intent to operate capesize bulk carriers that can meet tightening environmental requirements while maintaining competitiveness on fuel consumption and emissions performance as charterers increasingly scrutinise efficiency metrics. Drydel Shipping CEO Costas Dellaportas described the capesize bulk carrier orders as another step in Drydel Shipping’s long-term strategy, and Drydel Shipping CEO Costas Dellaportas said, “With this addition, 11 dry bulk carriers are currently under construction, all featuring ultra-efficient engines and high performance,” adding that Drydel Shipping has continued to back Japanese shipyards “through actions, not just words,” a statement that frames Drydel Shipping’s ordering strategy as a deliberate partnership approach rather than opportunistic slot booking. Greek shipowner and operator Drydel Shipping’s move into capesize bulk carriers fits within a broader evolution toward larger bulk carriers while maintaining a strong foundation in Japanese shipbuilding relationships, and Drydel Shipping notes that it previously ordered four handysize bulk carriers at Namura Shipbuilding, using those projects as building blocks for deeper collaboration and for expanding into larger designs as confidence and strategic ambition grew. Drydel Shipping also says it has invested more than $800 million in 25 newbuilding projects at leading Japanese shipyards since 2019, a figure that highlights the scale of Drydel Shipping’s capital commitment to fleet renewal and expansion and suggests that Drydel Shipping is positioning itself as a repeat, relationship-driven buyer in Japan with a long horizon on fleet modernisation. Taken together, the four-ship capesize bulk carrier orderbook at Namura Shipbuilding, the extended delivery timeline into 2029, and the efficiency-focused specifications underline how Drydel Shipping is pursuing a structured growth trajectory, using newbuildings to shape a modern fleet profile, improve operational leverage, and strengthen its presence in larger bulk carrier trades while maintaining the longstanding Japanese shipyard partnerships that Drydel Shipping presents as a defining element of its strategy. 24-December-2025

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), has sold its third modern ultramax bulk carrier in the past four months as part of a continuous fleet renewal program designed to strengthen its position within the global dry bulk market. The move underscores the strategic vision of Chief Executive Officer Costas Delaportas, who has guided Drydel Shipping through a transformative phase aimed at optimizing fleet efficiency, expanding its commercial presence, and enhancing its environmental performance. The latest transaction involves the sale of the ultramax bulk carrier MV Dionisis, a 63,000 deadweight ton (DWT) Japanese-built ship constructed in 2019. Industry sources report that Chinese interests have paid approximately $31.5 million for the vessel, which had recently completed its special survey (SS) in Q4 2024. This sale continues a pattern of divestments by Drydel Shipping, which has been actively replacing older tonnage with newbuilding ships equipped with modern, fuel-efficient propulsion systems. The company expects the average age of its fleet to drop below two years by 2026, reflecting one of the youngest and most technologically advanced dry bulk fleets among Greek operators. Founded by Costas Delaportas, Drydel Shipping has evolved from its earlier identity as Meadway Shipping and Trading (MST) into a dynamic and growth-oriented shipping organization with a strong focus on the ultramax, kamsarmax, and supramax segments. The Athens-headquartered shipowner and operator manages a mix of owned and chartered ships, serving global trade routes that link Asia, the Americas, Europe, and the Middle East. The firm’s operations cover a wide range of commodities, including grains, fertilizers, steel, coal, and minerals. Over the years, Drydel Shipping has earned a reputation for operational reliability, commercial flexibility, and disciplined fleet management, positioning itself as a trusted partner for major charterers and commodity traders. Under the direction of Chief Executive Officer Costas Delaportas, Drydel Shipping has invested heavily in next-generation bulk carriers that comply with the latest International Maritime Organization (IMO) environmental regulations. The company’s ongoing fleet renewal strategy emphasizes fuel-efficient designs, optimized hull forms, and the potential integration of alternative fuels and digital performance monitoring systems to reduce emissions and improve voyage efficiency. Drydel Shipping has also expanded its commercial footprint through strong relationships with Asian shipyards and global financing institutions, allowing it to secure competitive pricing and flexible delivery schedules for its growing orderbook. The sale of the MV Dionisis forms part of a broader realignment of the company’s portfolio, ensuring a balance between short-term asset optimization and long-term growth. The firm’s approach combines strategic asset trading with forward-looking investment in modern ships, positioning Drydel Shipping for sustainable expansion in the evolving dry bulk sector. As Drydel Shipping continues its transition into a new generation of eco-friendly shipping, the Greek-owned operator demonstrates the agility and resilience that have long characterized the Hellenic maritime tradition—balancing innovation, commercial prudence, and an enduring commitment to operational excellence. 2-November-2025

Athens-based shipowner and operator Drydel Shipping, formerly operating under the name Meadway Shipping and Trading (MST), has achieved a notable sale price for a modern bulk carrier, reaffirming Drydel Shipping’s disciplined asset management strategy and ongoing focus on maintaining one of the youngest and most efficient fleets within the global dry bulk shipping sector. Led by Chief Executive Officer Costas Delaportas, Drydel Shipping has established itself as a forward-looking and performance-driven maritime enterprise, recognized for its strong preference for Japanese-built ships that offer superior fuel efficiency, reliability, and technical excellence. Over recent years, Drydel Shipping has implemented a carefully structured fleet renewal program aimed at optimizing operational performance and environmental compliance. Through selective sales and acquisitions, Drydel Shipping has succeeded in reducing the average age of its fleet to under four years, a remarkable achievement that places Drydel Shipping among the youngest and most modern shipowners in Greece. The diversified fleet of supramax, ultramax, and kamsarmax bulk carriers operated by Drydel Shipping serves a wide range of global charterers engaged in the transportation of dry commodities such as grain, iron ore, coal, fertilizer, and steel products. Drydel Shipping’s approach to fleet renewal is distinct from most of its peers. While many shipowners tend to sell bulk carriers only after they reach double-digit ages, Drydel Shipping views even ships under ten years old as candidates for replacement if they no longer align with Drydel Shipping’s stringent standards for operational efficiency and fuel performance. This proactive and strategic fleet management philosophy allows Drydel Shipping to remain competitive in a volatile market, ensuring that its ships consistently meet the evolving demands of international charterers and environmental regulators. Drydel Shipping’s long-standing preference for Japanese-built tonnage is rooted in its trust in the quality and durability of vessels constructed by prominent Japanese shipyards such as Oshima Shipbuilding, Imabari Shipbuilding, and Shin Kurushima Dockyard. By sourcing tonnage from these highly reputable shipbuilders, Drydel Shipping benefits from vessels that deliver optimal performance, lower maintenance costs, and enhanced cargo-handling efficiency, aligning with Drydel Shipping’s operational goal of maximizing productivity and minimizing environmental impact. Headquartered in Athens, Drydel Shipping manages its operations globally with a focus on technical reliability, safety, and sustainability. Drydel Shipping has built enduring partnerships with leading charterers, shipyards, and financial institutions, reinforcing its strong standing in the international maritime community. Under the leadership of Costas Delaportas, Drydel Shipping has consistently demonstrated resilience through fluctuating market conditions, maintaining prudent financial management while continuing to reinvest in new tonnage and advanced technologies to enhance operational performance.Drydel Shipping’s long-term strategy is anchored in modernization, environmental responsibility, and continuous improvement. By maintaining a young, technologically advanced, and energy-efficient fleet, Drydel Shipping positions itself as one of the most progressive and reliable Greek shipowners in the dry bulk sector. As global trade evolves and sustainability becomes increasingly vital to maritime operations, Drydel Shipping remains committed to innovation, operational excellence, and long-term value creation for its partners and stakeholders. 6-October-2025

Shipowners were notably active in the dry bulk newbuilding market last week, with Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), placing an order for an ultramax bulk carrier 64K DWT at Imabari Shipbuilding Co Ltd with delivery scheduled for Q2 2028 and no price disclosed, while Fujian Mawei Shipbuilding Ltd. received a major order from COSCO Bulk Shipping for 15 units of 80K DWT kamsarmax bulk carrier newbuildings at $50 million each, with deliveries commencing in Q2 2027 and concluding in Q4 2032, and Imabari Shipbuilding Co Ltd secured another order for 5 units of 40K DWT handysize bulk carrier newbuildings from Japanese shipowner Shinomiya Tanker K.K. priced at $33.5 million each with all handysize bulk carrier newbuildings set for delivery in Q4 2025; in the container sector, Norwegian shipowner Blystad Group ordered 3 units of 3,000 TEU container ship newbuildings from Chinese shipyard Penglai Zhonghai Jinglu at $43 million apiece with deliveries scheduled from Q2 2027 to Q2 2028; in the gas sector, Sentek Marine ordered 2 units of 18,000 cbm LNG bunkering tankers from Chinese shipyard Guangzhou Wenchong with deliveries planned for Q2 2027 and Q1 2028 and no price disclosed; and in the tanker sector, Sentek Marine placed an order for 2 units of 113K DWT Aframax bulk carrier newbuildings with New Times Shipyard, again with no price disclosed and deliveries due in Q4 2027 and Q1 2028, while activity also intensified in the S&P (Sale and Purchase) market, covering the full range of bulk carrier sizes, with eight reported transactions including the scrubber-fitted 2004-built capesize bulk carrier 173K DWT MV Partagas sold for around $13.5 million, the scrubber-fitted 2012-built post-panamax bulk carrier 111K DWT MV Baby Cassiopeia sold to a Vietnamese shipowner for about $19 million, the scrubber-fitted 2013-built kamsarmax bulk carrier MV Bright Pegasus acquired by a Qatari-based shipowner for approximately $17.5 million, Athens-based and Nasdaq-listed shipowner and operator Diana Shipping Inc. (DSX) selling the 2010-built panamax bulk carrier 75K DWT MV Selina for about $11.8 million, the 2014-built ultramax bulk carrier 67K DWT MV Bulk Aquila sold for around $22 million, the 2013-built supramax bulk carrier 58K DWT MV Marigoula sold for about $13.5 million, and in the handysize bulk carrier sector, the 2016-built handysize bulk carrier 39K DWT MV NY Trader III was sold for approximately $17 million while the 2014-built handysize bulk carrier 28K DWT MV Amira Sara was sold for around $11 million. 18-June-2025

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), is enhancing its fleet with the addition of an ultramax bulk carrier newbuilding through a deal with Nihon Shipyard in Japan. The shipowner and operator Drydel Shipping, led by Costas Dellaportas, has signed a contract with Nihon Shipyard for the construction of a 64K DWT ultramax bulk carrier newbuilding, which is scheduled for delivery in 2028, although Greek shipowner and operator Drydel Shipping has not disclosed the financial details of the ultramax bulk carrier newbuilding. This latest contract represents the 10th bulk carrier in shipowner and operator Drydel Shipping’s active newbuilding program, all of which have been ordered from Japanese shipyards; prior to this, Drydel Shipping ordered two capesize bulk carrier newbuildings from Namura Shipbuilding, also slated for delivery in 2028. According to Athens-based shipowner and operator Drydel Shipping, the newly ordered ultramax bulk carrier newbuilding will feature a fuel-efficient hull form, an IMO (International Maritime Organization) Tier III/Phase 3 compliant engine, and advanced energy-saving systems including a hybrid fin and a weather-assisting duct. Nihon Shipyard is a joint venture with Imabari Shipbuilding holding a 51% stake and Japan Marine United owning the remaining 49%. Greek shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), commented: “Despite today’s challenging dry bulk market environment, Drydel Shipping is proud to welcome another high-quality bulk carrier newbuilding project from the esteemed Imabari Shipbuilding, reaffirming Drydel Shipping’s long-standing commitment to Japanese shipbuilding. Drydel Shipping is a firm believer in the long-term potential of the dry bulk sector; this 64K DWT ultramax bulk carrier newbuilding underscores our forward-looking approach.” 10-June-2025

Athens-based shipowner and operator Drydel Shipping, previously known as Meadway Shipping and Trading (MST), was one of the most active dry bulk owners in 2024. The company ventured into the capesize bulk carrier market, expanded its ultramax bulk carrier fleet, and for the first time, grew its total fleet—including chartered ships—to 30 vessels. Led by Costas Delaportas, Drydel Shipping also inaugurated its fourth and fifth global offices in Sao Paulo and Houston in recent months. Looking ahead to 2025, CEO Costas Delaportas remains cautiously optimistic about the dry bulk sector, citing a limited schedule of newbuild deliveries and the potential for significant scrapping of the ageing global dry bulk fleet. However, he notes that macroeconomic factors could introduce “destabilizing influences” into the shipping market. “If geopolitical risks or economic downturns persist, dry bulk markets could be under pressure,” stated Costas Delaportas. Nonetheless, he believes that the shipping industry is adept at rapid adaptation. “Even if tariffs are introduced, the cargo will still need to be imported from other locations, leading to new shipping patterns. With trade routes evolving and China’s commitment to injecting trillions into infrastructure and industrial output, there are strong market prospects,” Costas Delaportas explained. In December 2024, Drydel Shipping made a significant move into the capesize bulk carrier sector by striking a newbuilding deal in Japan. The company contracted Namura Shipbuilding to deliver two scrubber-equipped, 182K DWT capesize bulk carrier newbuilds set for delivery in 2028. Additionally, Drydel Shipping commissioned its first ultramax bulk carrier newbuild since its rebranding from MST at Shin Kurushima Dockyard in June 2024, followed by another order at Tsuneishi Shipbuilding in July 2024. Drydel Shipping’s strategic expansion reflects its robust operational strategy and keen insight into the evolving market dynamics. The company’s growth has been supported by a significant investment in fleet modernization and environmental sustainability, aligning with global shipping regulations and standards. Drydel Shipping has also been active in enhancing its operational efficiency through the adoption of advanced maritime technologies and innovations. This includes the integration of state-of-the-art navigation and operational systems into their ships, which improves safety and performance. Drydel Shipping’s commitment to sustainability is evidenced not only in its investment in low-emission ships but also in its operational practices that prioritize environmental stewardship. Drydel Shipping has implemented several initiatives aimed at reducing its carbon footprint, such as optimizing voyage planning and improving fuel efficiency. The leadership of Costas Delaportas has been pivotal in navigating Drydel Shipping through the highly competitive and often volatile global shipping market. His vision for the company is not only to sustain growth but to lead in market innovation and environmental responsibility. Under his guidance, Drydel Shipping has not only expanded geographically but also enhanced its reputation as a forward-thinking, reliable partner in the global maritime industry. With a clear strategic direction and continued focus on adaptive strategies, Drydel Shipping is well-positioned to maintain its growth trajectory and respond effectively to the changing global economic and shipping landscapes. As it looks to the future, the company is committed to maintaining its competitive edge by investing in its fleet and enhancing its service offerings, ensuring it remains at the forefront of the dry bulk shipping sector. 22-January-2025

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), is expanding its operations into the capesize bulk carrier sector with a strategic newbuilding deal in Japan. Under the leadership of Costas Dellaportas, Drydel Shipping has commissioned two scrubber-equipped 182K DWT capesize bulk carrier newbuilds from Namura Shipbuilding, slated for delivery in 2028. Drydel Shipping has declared this initiative a joint venture with one of its longstanding Japanese partners, and it will manage both vessels commercially and technically. Previously, Drydel Shipping had embarked on an order for four handysize bulk carriers at Namura Shipbuilding. This latest endeavor increases Drydel Shipping’s order book to 10 bulk carriers due over the next four years, highlighting its commitment to expanding its fleet and capabilities in the maritime industry. In addition to these new orders, Drydel Shipping ventured into the ultramax sector with its first ultramax bulk carrier newbuilding at Shin Kurushima Dockyard in June 2024, followed closely by another order at Tsuneishi Shipbuilding in July 2024. Drydel Shipping, established over two decades ago, has a rich history in the shipping industry, specializing primarily in the dry bulk sector. The company’s fleet, known for its versatility and technological advancements such as the inclusion of exhaust gas cleaning systems (scrubbers), is designed to meet the increasing environmental regulations in maritime operations. Drydel Shipping’s strategic move into larger vessel classes with these new capesize orders reflects its adaptive strategy in response to global trade dynamics and market demand. Drydel Shipping’s proactive approach in fleet management and expansion is complemented by its robust operational infrastructure and seasoned leadership, ensuring efficient operations across its growing fleet. With these developments, Drydel Shipping continues to solidify its position as a key player in the global shipping industry, navigating the complexities of maritime logistics with innovation and strategic partnerships. 3-December-2024

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), continues to phase out its older bulk carriers amidst a push for newbuildings. Under the leadership of Costas Delaportas, Drydel Shipping is focusing on a series of new Japanese bulk carriers expected to be delivered soon. Taking advantage of high bulk carrier values and the strong demand from Chinese buyers, the Greek shipowner and operator is strategically selling off its older vessels. Recently, Drydel Shipping completed the sale of its fourth bulk carrier in just as many months. Athens-based shipowner and operator Drydel Shipping recently sold the 2015-built kamsarmax bulk carrier, 81K DWT MV Beluga, to a Chinese shipowner and operator. Drydel Shipping has established itself as a key player in the maritime shipping industry, operating a diverse fleet that primarily includes bulk carriers. Athens-based shipowner and operator Drydel Shipping’s strategy revolves around renewing its fleet with newer, more efficient bulk carriers that comply with the latest environmental regulations. This modernization effort is part of Drydel Shipping’s commitment to sustainability and reducing the environmental impact of its operations. Drydel Shipping’s management, led by Costas Delaportas, has been instrumental in navigating the complex dynamics of the global shipping market, focusing on operational excellence and strategic fleet enhancement. Drydel Shipping’s proactive approach to fleet management allows it to capitalize on market opportunities, such as the current high demand in the Chinese market, by offloading older assets at a premium. In addition to its commercial activities, Drydel Shipping places a strong emphasis on safety and quality management across its operations. This focus ensures the reliability and performance of its bulk carriers, contributing to the company’s reputation as a trusted partner in the global shipping industry. With its strategic initiatives and solid leadership, Drydel Shipping is well-positioned to continue its growth and maintain a competitive edge in the market. 16-October-2024

Athens-based shipowner and operator Drydel Shipping, previously known as Meadway Shipping and Trading (MST), has been active in the shipping industry, demonstrating a strategic approach to fleet management and asset disposition. Recently, the company sold the 2010-built ultramax bulk carrier MV Dolce Vita (formerly MV Virgo Colossus) for approximately $23.5 million to a Chinese shipowner and operator. This transaction marks Drydel Shipping’s third ultramax disposal in 2024, signaling a shift in their asset management strategy. Under the leadership of Costas Dellaportas, Drydel Shipping acquired the Oshima-built MV Dolce Vita (previously MV Virgo Colossus) in 2021 for around $24 million. Prior to this sale, the company had divested two other ultramax vessels, the 2010-built MV Luna Rossa and the 2018-built MV Velvet, underscoring its ongoing fleet rejuvenation efforts. Currently, Drydel Shipping manages a diversified fleet that includes 12 owned bulk carriers and 18 chartered-in vessels, indicating robust operational capacity and flexibility in managing cargo demands. Furthermore, the company has placed a significant emphasis on expanding its fleet with modern vessels, having placed orders for 9 new bulk carriers scheduled for delivery between 2024 and 2026. This forward-looking investment strategy positions Drydel Shipping well within the competitive landscape of the maritime industry, balancing between operational efficiency and market responsiveness. 12-August-2024

Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), is enhancing its fleet with a new addition from Tsuneishi Shipbuilding. This latest contract for an ultramax bulk carrier new building continues Drydel Shipping’s strategic investments in Japanese ultramax bulk carrier constructions. The new ultramax bulk carrier will be built to meet the International Maritime Organization (IMO) Energy Efficiency Design Index (EEDI) Phase 3 standards, emphasizing Drydel Shipping’s commitment to environmental sustainability. This order marks Drydel Shipping’s fourth ultramax bulk carrier new building at Tsuneishi Shipbuilding and its affiliated yards. The company had previously contracted a scrubber-fitted eco-friendly bulk carrier in May 2023, with the first three ultramax vessels expected to join its fleet in Q4 2025 and Q1 2026. Additionally, Costas Dellaportas-led Drydel Shipping secured its first bulk carrier from Shin Kurushima Dockyard in April 2024. The latest order constitutes Drydel Shipping’s 11th new building bulk carrier project since December 2021, including two handysize bulk carriers delivered from Namura Shipyard in Q1 2024. Recently, Drydel Shipping also engaged in two separate sales of ultramax bulk carriers, totaling approximately $56 million. 22-July-2024

The Athens-based Drydel Shipping, previously known as Meadway Shipping and Trading (MST), has successfully concluded the sale of the 2010 Oshima-built ultramax bulk carrier MV Luna Rossa to an undisclosed Chinese shipowner for approximately $20 million. The 61K DWT vessel, originally named MV Ultra Prosperity, was purchased by Drydel Shipping in 2020 from the Japanese shipowner Nagashiki Shipping Co Ltd (Nagashiki Kisen K.K.) for about $12 million. In related news, Drydel Shipping, led by Costas Dellaportas, is reportedly planning to sell another vessel from its fleet. The vessel in question, the 2018-built, scrubber-fitted ultramax bulk carrier MV Velvet, is expected to fetch around $36 million according to Sale and Purchase (S&P) sources. This anticipated transaction is part of Drydel Shipping’s ongoing fleet management strategy. In February 2024, the company rebranded to Drydel Shipping and currently maintains a fleet that includes 11 bulk carriers, even considering the reported sales. Additionally, Drydel Shipping manages 18 chartered-in bulk carriers and has 10 new bulk carrier newbuilds scheduled for delivery between 2024 and 2026. This expansion and modernization of its fleet underscore Drydel Shipping’s commitment to strengthening its position in the global maritime industry. 4-July-2024

The Athens-based shipping company Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), has completed the sale of the 2018-built scrubber-fitted ultramax bulk carrier, 62K DWT MV Velvet. Led by Costas Dellaportas, Drydel Shipping will receive approximately $36 million from the sale of the MV Velvet. In 2022, Drydel Shipping acquired the Liberia-flagged MV Velvet (previously named MV Nord Baltic) from the Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S for about $36.8 million. Rebranded in February 2024, Drydel Shipping currently operates a fleet of 11 bulk carriers, including the ultramax bulk carrier MV Velvet, alongside 18 chartered-in bulk carriers and 10 newbuilds scheduled for delivery between the fourth quarter of 2024 and the first quarter of 2026. Recently, Drydel Shipping took delivery of one of the 40K DWT handysize bulk carriers, MV Warrior, from Namura Shipbuilding Co Ltd, marking the first of four vessels that Drydel Shipping has under construction at Namura Shipbuilding Co Ltd as of 25 June 2024. 25-June-2024

Athens-based shipping company Drydel Shipping, previously known as Meadway Shipping and Trading (MST), has augmented its fleet by securing the 2015-constructed kamsarmax, 81K DWT MV Beluga (ex MV Nord Beluga), for an approximate $27 million from Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S. DryDel Shipping is set to take possession of MV Beluga (ex MV Nord Beluga) in Singapore this Wednesday. MV Beluga (ex MV Nord Beluga) stands out for its ice-class certification and the incorporation of scrubber technology. Built in 2015 by Oshima Shipbuilding, MV Beluga (ex MV Nord Beluga) signifies a crucial step in the expansion of DryDel Shipping’s fleet. Following the acquisition of MV Beluga (ex MV Nord Beluga), DryDel Shipping’s inventory now comprises 11 bulk carriers, in addition to 19 chartered-in bulk carriers and 10 newbuilds slated for delivery between 2024 and 2026. 12-April-2024

The Athens-based shipping company Drydel Shipping, previously known as Meadway Shipping and Trading (MST), has recently expanded its fleet by ordering its first ultramax bulk carrier. This addition increases its portfolio to ten new bulk carriers under construction across Japanese shipyards and their partners. Under the guidance of Costas Dellaportas, Drydel Shipping has entered into an agreement with Shin Kurushima Dockyard in Japan for a 64,000 DWT ultramax bulk carrier, scheduled for delivery in 2026 at a cost of approximately $35 million. Details regarding the ship’s price or specifications have not been released by Drydel Shipping. Officially rebranded in February 2024, Drydel Shipping differentiates itself from Meadway Bulkers, which was established by Costas Dellaportas’ brother, George Dellaportas, in 2021. Including the latest order, Drydel Shipping’s inventory comprises 11 owned bulk carriers, 19 chartered-in bulk carriers, and 10 bulk carriers on order, expected to be delivered between 2024 and 2026. 3-April-2024

Meadway Shipping and Trading (MST), an Athens-based shipowning and operating firm, is set to undergo a name change to Drydel Shipping. Costas Dellaportas-led shipowner and operator Drydel Shipping has expanded its fleet with a long-term charter deal for a Japanese newbuild. Drydel Shipping is bringing in the 2024-built handysize bulk carrier 40K DWT MV Twin Delight from Japan’s Soki Kisen for at least three years. MV Twin Delight recently named and delivered at Imabari will join 18 other Drydel-operated bulkers, with more Japanese tonnage likely to join the fleet in time to come. In addition to chartered-in bulk carriers, Athens-based shipowner and operator Drydel Shipping, formerly known as Meadway Shipping and Trading (MST), also owns a fleet of 11 kamsarmax to handysize bulk carriers, with nine more newbuilds set for delivery between 2024 and 2026. 23-March-2024

To eliminate confusion between two similar shipping enterprises, Costas Dellaportas has decided to rename his Athens-based shipowning and operating company, Meadway Shipping & Trading (MST), to DryDel Shipping. This strategic move comes three years after the division of the fleet initially managed under Meadway Shipping & Trading (MST), which was a result of the Dellaportas brothers parting ways in their business operations. The need for a name change arose following the split of Meadway Shipping & Trading’s (MST’s) fleet in 2021, after the passing of the company’s founder, Dionysios Dellaportas, in 2019. George Dellaportas went on to establish Meadway Bulkers, taking a portion of the fleet with him, while Costas Dellaportas opted to stay with the original entity. To distinguish his operation from his brother George’s Meadway Bulkers, Costas Dellaportas has opted for the name DryDel Shipping for his continued venture in the shipping industry. This rebranding aims to clearly differentiate between the two companies, reflecting a new chapter for the original firm under Costas Dellaportas’s leadership. 5-February-2024

Meadway Shipping and Trading (MST), an Athens-based shipowning and operating firm, is set to undergo a name change to Drydel Shipping starting from 19 February 2024. Under the leadership of Costas Dellaportas, this transition will encompass the company’s global operations, including offices in Athens, Singapore, Dubai, and its Meadway Maritime Chartering division. The initiative aims to distinguish the company in the competitive market and address any potential confusion arising from similarities with other company names. Meadway Shipping and Trading assures that this rebranding will not affect its ownership, staff, or business activities. Established in 1988, Meadway Shipping and Trading (MST), presently boasts a fleet of 11 bulk carriers, ranging from kamsarmax to handysize, with an average fleet age of six years. Additionally, the company anticipates the arrival of nine new vessels scheduled for delivery between 2024 and 2026. 4-February-2024

Athens-based shipowner and operator Meadway Shipping & Trading (MST) has acquired 2020 built ultramax bulk carrier 64K DWT MV Utopia (ex MV Nord Amazon). MV Utopia (ex MV Nord Amazon) was constructed by Oshima Shipbuilding Co., Ltd. 2020 built ultramax bulk carrier 64K DWT MV Utopia (ex MV Nord Amazon) purchase price remains undisclosed. Athens-based shipowner and operator Meadway Shipping & Trading (MST) has shown a preference for Oshima-built ships. Just earlier this month, Meadway Shipping & Trading (MST) commissioned the Japanese shipyard Oshima to construct a 42K DWT bulk carrier, marking their second order with Oshima Shipbuilding Co., Ltd. Currently, Meadway Shipping & Trading (MST) anticipates the delivery of nine (9) new bulk carriers between the years 2024 and 2026. In April 2021, Dionysios Dellaportas’ sons have split the company’s assets between George Dellaportas and Costas Dellaportas. Costas Dellaportas controls Meadway Shipping & Trading (MST) and his brother George Dellaportas established Meadway Bulkers and Delaway Maritime. 29-September-2023

Athens-based shipowner and operator Meadway Shipping & Trading (MST) has once again engaged the services of Oshima Shipbuilding, commissioning a sophisticated 42K handymax bulk carrier. This marks the second bulk carrier. Costas Dellaportas-led shipowner and operator Meadway Shipping & Trading (MST) has placed an order for with the esteemed Oshima Shipbuilding. The anticipated delivery period for this 42K handymax bulk carrier is slated for the Q1 2026. Presently, Meadway Shipping & Trading (MST) is anticipating the arrival of nine (9) state-of-the-art newbuildings, strategically staggered between 2024 and 2026. This deliberate endeavor reiterates Meadway Shipping & Trading’s (MST) unwavering dedication to remaining a pioneer in the maritime domain, offering avant-garde shipping alternatives, and championing sustainable transit methodologies. In April 2021, Dionysios Dellaportas’ sons have split the company’s assets between George Dellaportas and Costas Dellaportas. Costas Dellaportas controls Meadway Shipping & Trading (MST) and his brother George Dellaportas established Meadway Bulkers and Delaway Maritime. 16-September-2023

Athens-based shipowner and operator Meadway Shipping & Trading (MST) acquired Copenhagen-based shipowner and operator Norden’s 2018 built ultramax bulk carrier 62K DWT MV Nord Baltic for around $36 million. Meadway Shipping & Trading (MST) will take the delivery of MV Nord Baltic in August. In April 2021, Dionysios Dellaportas’ sons have split the company’s assets between George Dellaportas and Costas Dellaportas. Costas Dellaportas controls Meadway Shipping & Trading (MST) and his brother George Dellaportas established Meadway Bulkers and Delaway Maritime. Since the amicabily split of the company, Meadway Shipping & Trading (MST) has invested $130 million on four (4) ultramax and two (2) handysize bulk carriers. Furthermore, Athens-based shipowner and operator Meadway Shipping & Trading (MST) has ordered a pair of 40K DWT logger handysize newbuilding bulk carriers for around $64 million in total. Meadway Shipping & Trading (MST) has ordered 40K DWT logger handysize newbuilding bulk carriers according to phase 3 standards of the EEDI (Energy Efficiency Design Index), which will be compulsory for vessels contracted after 2025. Meadway Shipping & Trading (MST) has ordered 40K DWT logger handysize newbuilding bulk carriers at Hakodate Shipyard. Currently, Costas Dellaportas-led Meadway Shipping & Trading (MST) has a fleet of twelve (12) bulk carriers. Meadway Shipping & Trading (MST) fleet ranges from handysize to the kamsarmax bulk carriers. 9-June-2022

Meadway Bulkers and Delaway Maritime were established in 2021 by George Dellaportas. Meadway Bulkers was established in April 2021 after George Dellaportas and his brother Costas Dellaportas amicably split the assets of the original family company Meadway Shipping & Trading. Meadway Bulkers has acquired five (5) more bulk carriers since the company’s launch, bringing the total fleet to 11 bulk carriers. In May 2021, Meadway Bulkers acquired 2012 built panamax bulk carrier 78K DWT MV Nord Sirius for around $20 million. In June 2021, Meadway Bulkers acquired 2010 built kamsarmax bulk carrier 83K DWT MV Glorious Wind for around $20 million. In July 2021, Meadway Bulkers acquired 2014 built panamax bulk carrier 78K DWT MV Integrale (ex MV Orient Genesis) for around $23 million. Lately, Meadway Bulkers acquired 2011 built handysize bulk carrier 28K DWT MV Della (ex MV Star Life) and 2013 built handysize bulk carrier 37K DWT MV Lucky Life. Meadway Bulkers projects to grow considerably in the handysize bulk carriers. Meadway Bulkers concludes bulk carrier values are still comparatively low. Usually, the Dellaportas family opted for new building bulk carriers. But, Meadway Bulkers has preferred secondhand acquisitions instead. Meadway Shipping & Trading is led by Costas Dellaportas. Meadway Shipping & Trading was established by George Dellaportas and Costas Dellaportas’ father, Dionysios Dellaportas, who died in 2019. 25-July-2021

Greek shipowner and operator Meadway Shipping & Trading’s passed away founder Dionysios Dellaportas’ sons have split the company’s assets between George Dellaportas and Costas Dellaportas. Costas Dellaportas controls Meadway Shipping & Trading and his brother George Dellaportas established Meadway Bulkers and Delaway Maritime. George Dellaportas led Meadway Bulkers acquired 2012 built panamax bulk carrier 78K DWT MV Nord Sirius for around $20 million. George Dellaportas led Meadway Bulkers would not prefer investing in secondhand bulk carriers, however, current dry bulk market conditions have pushed the Meadway Bulkers to make an exemption to this practice. Currently, obtaining a new-building slot is becoming more difficult as shipyards hesitate to commit to fresh orders amid larger-than-expected price hikes for steel plates. Currently, George Dellaportas led Meadway Bulkers owns and operates seven (7) bulk carriers. Lately, Costas Dellaportas led Meadway Shipping & Trading acquired 2010 built ultramax bulk carrier 61K DWT MV Luna Rossa (ex MV Ultra Prosperity) from Nagashiki Kisen. 10-May-2021

Dionysios Dellaportas, the founder and president of Meadway Shipping & Trading Inc, died at the age of 70. Dionysios Dellaportas established Meadway Shipping & Trading Inc as a ship brokerage in 1988. Dionysios Dellaportas expanded Meadway Shipping & Trading Inc into ship-owning as well. Currently, Meadway Shipping & Trading Inc owns and operates 12 bulk carriers. Furthermore, Meadway Shipping & Trading Inc charters in 40 bulk carriers on a long-term basis. Dionysios Dellaportas is the first shipowner who opened a chartering office in Singapore. Meadway Shipping & Trading Inc will be controlled by his sons Costas Dellaportas and George Dellaportas. In 2009, Dionysios Dellaportas established the Singapore branch. In 2018, Dionysios Dellaportas established the Dubai branch. 17-July-2019

Athens-based shipowner and operator Meadway Shipping & Trading Inc sold 2005 built supramax bulk carrier 53K DWT MV Delfa for around $8 million to a Vietnamese shipowner and operator. In 2010, Meadway Shipping & Trading Inc acquired MV Delfa from Soechi Lines for around $25 million. Athens-based shipowner and operator Meadway Shipping & Trading Inc last sold a bulk carrier in April 2017, when Meadway Shipping & Trading Inc sold the sistership 2007 built supramax bulk carrier 53K DWT MV Lark to Meratus Line for $7.5 million. Meadway Shipping & Trading Inc was established by Dionysios Dellaportas in 1989 as a shipbroking company. In 2011, Meadway Shipping & Trading Inc opened an office in Singapore and recently opened an office in Dubai. Currently, Athens-based shipowner and operator Meadway Shipping & Trading Inc. own and operate a fleet of eleven (11) bulk carriers. 20-May-2019

Greek shipowner and operator Meadway Shipping & Trading inaugurated a successful venture in the Middle East via the UAE office. Meadway Shipping & Trading initiated the Dubai branch in July 2018. In 2010, Meadway Shipping & Trading unrolled the premier satellite office in Singapore. Meadway Shipping & Trading’s Dubai office will be directed by Will Stride. Meadway Shipping & Trading named Will Stride to open the Dubai office. Greek shipowner and operator Meadway Shipping & Trading become an international dry bulk carrier operator. Singapore office supported Meadway Shipping & Trading to establish relationships with Asian trading houses, shipowners, and encouraged business. Meadway Shipping & Trading operates around 40 dry bulk carriers. Currently, Meadway Shipping & Trading has a fleet of 12 dry bulk carriers. Supramax dry bulk carriers are the core business of Meadway Shipping & Trading. Meadway Shipping & Trading’s Dubai office has 5 chartering staff that manages short-term charters. Meadway Shipping & Trading’s Dubai office will dominate the Middle East, Red Sea, South and East Africa, and India. The rising amount of dry commodities are being exported or re-exported from the Middle East. Most notable shipped cargoes are sulfur, aggregates, and alumina. South African countries are shipping of coal, chrome, and manganese which are ideally suited to supramax dry bulk carriers of Meadway Shipping & Trading. Meadway Shipping & Trading is anticipating that 2019 will be a highly positive year for the company. Meadway Shipping & Trading’s Dubai office may hire new shipbrokers for the chartering department in the near future to supervise the increasing fixture volumes. 24-March-2019