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