Meadway Bulkers

Athens-based shipowner and operator Meadway Bulkers Ltd Chief Executive Officer George Delaportas has expressed his belief that older bulk carriers now offer the best value for investment following the International Maritime Organization’s (IMO’s) failure to approve its proposed climate framework and global carbon tax mechanism. George Delaportas, who leads Meadway Bulkers Ltd—the shipowning enterprise founded by his father, renowned Greek shipping magnate Dionysios Dellaportas—explained that the postponement of the International Maritime Organization’s (IMO’s) climate vote has deepened uncertainty surrounding alternative fuel strategies for newbuildings, leading many shipowners to favor modern secondhand ships instead of new orders. “I was asked about the International Maritime Organization’s (IMO’s) net-zero policy, and my answer was simple: I believed the vote would not go through,” said George Delaportas, reinforcing his skepticism toward premature regulatory ambitions and costly newbuilding investments without clear guidance on viable propulsion systems. Under the leadership of George Delaportas, Meadway Bulkers Ltd has adopted a pragmatic and counter-cyclical approach to fleet expansion, focusing on secondhand acquisitions of well-maintained bulk carriers that balance cost efficiency and operational flexibility. Founded in Athens, Meadway Bulkers Ltd has grown into a respected name among Greek shipowners, specializing primarily in supramax, ultramax, and handysize bulk carriers engaged in worldwide trading. The shipowner and operator manages both owned and chartered-in tonnage and has established a strong reputation for reliability, efficient operations, and disciplined asset management. Meadway Bulkers Ltd was founded by Dionysios Dellaportas, who has long been recognized as one of the pioneers of modern Greek shipping, building a diversified portfolio of bulk carriers and establishing a tradition of strategic investment decisions guided by deep market insight. Today, the Dellaportas family continues to uphold those values through Meadway Bulkers Ltd’s carefully balanced fleet, which trades globally across routes carrying key commodities such as coal, grain, fertilizer, cement, steel, and minerals. George Delaportas has emphasized that, in the current environment of technological ambiguity, secondhand tonnage offers a far safer return profile compared to ordering new ships with uncertain fuel configurations. He has stated that the absence of a unified decarbonisation pathway at the International Maritime Organization (IMO) makes it impossible for shipowners to commit confidently to dual-fuel or ammonia-ready newbuildings, especially when those technologies may require major retrofits before becoming commercially viable. Meadway Bulkers Ltd has instead concentrated on upgrading existing ships with energy efficiency improvements, such as optimized hull coatings, new propeller designs, and advanced voyage performance systems, aligning with short-term environmental targets while preserving commercial agility. Beyond ship operations, Meadway Bulkers Ltd provides in-house technical management, crewing, and chartering services, allowing for full operational control and consistent performance across its fleet. The shipowner and operator has built strong relationships with global charterers and commodity traders, maintaining a reputation for professionalism and adaptability even in volatile freight markets. George Delaportas’ views mirror a broader trend among mid-sized Greek shipowners, who prefer to invest in high-quality secondhand ships rather than commit to costly speculative newbuildings that depend on unproven green fuel technologies. His leadership has positioned Meadway Bulkers Ltd as a disciplined, forward-looking player in the dry bulk sector, one that balances environmental responsibility with economic realism. As freight markets strengthen and ship values rise, Meadway Bulkers Ltd continues to leverage its family legacy, industry experience, and hands-on management to navigate the uncertainties of global regulation and technology transition. The shipowner and operator’s philosophy remains rooted in sound asset selection, efficient operation, and steady long-term growth—principles that have defined Greek shipping success stories for generations. 23-October-2025

Athens-based shipowner and operator Meadway Bulkers Ltd has expanded its shipbuilding programme in Japan by ordering an additional ultramax bulk carrier, as George Dellaportas-led Meadway Bulkers Ltd, founded by the son of Greek shipping tycoon Dionysios Dellaportas, confirmed a new 64K DWT ultramax bulk carrier new building at Imabari Shipbuilding with delivery planned for Q3 2027. Prior to this latest development, the Greek shipowner and operator Meadway Bulkers Ltd, which currently has 15 bulk carriers ships in its fleet, had already secured three ultramax bulk carrier new buildings scheduled for construction at Tsuneishi Zhoushan shipyard in China with delivery timelines through 2026. Athens-based shipowner and operator Meadway Bulkers Ltd was formed in 2021 by George Dellaportas, following the division from his brother Costas Dellaportas, who remained with the original company Meadway Shipping & Trading (MST), now operating under the name DryDel Shipping. With this new order, Meadway Bulkers Ltd will have a total of six new buildings entering its fleet by 2027, including two handysize bulk carriers from Namura Shipbuilding set for delivery in Q1 2026. 8-May-2025

Athens-based shipping company Drydel Shipping, formerly operating as Meadway Shipping and Trading (MST), has recently expanded its fleet by placing an order for its first ultramax bulk carrier, increasing the number of new bulk carriers it has under construction across Japanese shipyards and affiliated builders to ten. Led by Costas Dellaportas, Drydel Shipping has entered into an agreement with Japan’s Shin Kurushima Dockyard for a 64,000 DWT ultramax bulk carrier, set for delivery in 2026 at an approximate cost of $35 million, though specific pricing and technical details have not been disclosed by the company. The rebranding to Drydel Shipping in February 2024 serves to distinguish the company from Meadway Bulkers, established by Costas Dellaportas’ brother George Dellaportas in 2021. With this latest order, Drydel Shipping’s fleet now consists of 11 owned bulk carriers, 19 chartered-in bulk carriers, and 10 newbuilds scheduled for delivery between 2024 and 2026. 2-April-2024

To avoid confusion between two similarly named shipping companies, Costas Dellaportas has renamed his Athens-based shipowning and operating firm Meadway Shipping & Trading (MST) to DryDel Shipping, a decision that follows the 2021 division of the original fleet after the death of founder Dionysios Dellaportas in 2019; after the split, George Dellaportas established Meadway Bulkers and took part of the fleet, while Costas Dellaportas retained the original company and has now rebranded it as DryDel Shipping to clearly differentiate it from his brother’s operations, marking a new era for the business under his leadership. 4-February-2024

Athens-based shipowner and operator Meadway Shipping & Trading (MST) has acquired the 2020 built ultramax bulk carrier 64K DWT MV Utopia (formerly MV Nord Amazon), which was constructed by Oshima Shipbuilding Co., Ltd., although the purchase price has not been disclosed; this acquisition further reflects Meadway Shipping & Trading’s (MST) clear preference for Oshima-built vessels, as earlier this month the company also placed an order with Japanese shipyard Oshima for the construction of a 42K DWT bulk carrier, marking their second order with Oshima Shipbuilding Co., Ltd. Currently, Meadway Shipping & Trading (MST) is expecting the delivery of nine (9) new bulk carriers scheduled between 2024 and 2026. In April 2021, the company’s assets were amicably split between Dionysios Dellaportas’ sons, with Costas Dellaportas assuming control of Meadway Shipping & Trading (MST) and George Dellaportas founding Meadway Bulkers and Delaway Maritime. 28-September-2023

Athens-based shipowner and operator Meadway Shipping & Trading (MST) has once again partnered with Oshima Shipbuilding by ordering a second advanced 42K handymax bulk carrier, with the delivery scheduled for Q1 2026, reinforcing the commitment of Costas Dellaportas-led Meadway Shipping & Trading (MST) to high-quality shipbuilding through its collaboration with the renowned Oshima Shipbuilding. At present, Meadway Shipping & Trading (MST) is expecting the arrival of nine (9) cutting-edge newbuildings, strategically distributed between 2024 and 2026, underscoring the company’s ongoing commitment to maritime innovation, sustainable transport practices, and providing forward-thinking shipping solutions. In April 2021, the assets of the original company were amicably divided between Dionysios Dellaportas’ sons, with Costas Dellaportas assuming control of Meadway Shipping & Trading (MST) and George Dellaportas founding Meadway Bulkers and Delaway Maritime. 15-September-2023

Athens-based shipowner and operator Meadway Shipping & Trading (MST) acquired the 2018 built ultramax bulk carrier 62K DWT MV Nord Baltic from Copenhagen-based shipowner and operator Norden for approximately $36 million, with delivery of MV Nord Baltic scheduled for August. In April 2021, Dionysios Dellaportas’ sons divided the company’s assets, with Costas Dellaportas taking control of Meadway Shipping & Trading (MST) and George Dellaportas founding Meadway Bulkers and Delaway Maritime. Since the amicable split, Meadway Shipping & Trading (MST) has invested $130 million in the acquisition of four (4) ultramax and two (2) handysize bulk carriers, and in addition has ordered two 40K DWT logger handysize newbuilding bulk carriers for approximately $64 million in total. These newbuilding vessels have been ordered in compliance with phase 3 standards of the EEDI (Energy Efficiency Design Index), which will become mandatory for ships contracted after 2025, and are being constructed at Hakodate Shipyard. Currently, Costas Dellaportas-led Meadway Shipping & Trading (MST) operates a fleet of twelve (12) bulk carriers, with the fleet spanning vessel sizes from handysize to kamsarmax. 8-June-2022

Meadway Bulkers and Delaway Maritime were founded in 2021 by George Dellaportas, with Meadway Bulkers being established in April 2021 following the amicable division of assets between George Dellaportas and his brother Costas Dellaportas from their original family company Meadway Shipping & Trading; since its inception, Meadway Bulkers has acquired five (5) additional bulk carriers, increasing its total fleet to 11 bulk carriers. In May 2021, Meadway Bulkers purchased the 2012 built panamax bulk carrier 78K DWT MV Nord Sirius for approximately $20 million, followed in June 2021 by the acquisition of the 2010 built kamsarmax bulk carrier 83K DWT MV Glorious Wind for around $20 million, and in July 2021 by the 2014 built panamax bulk carrier 78K DWT MV Integrale (formerly MV Orient Genesis) for around $23 million. Most recently, Meadway Bulkers acquired the 2011 built handysize bulk carrier 28K DWT MV Della (formerly MV Star Life) and the 2013 built handysize bulk carrier 37K DWT MV Lucky Life. Meadway Bulkers is aiming for significant growth in the handysize bulk carrier segment and considers current bulk carrier values to remain relatively low; while the Dellaportas family traditionally favored new building bulk carriers, Meadway Bulkers has opted instead for secondhand vessel acquisitions. Meadway Shipping & Trading is now under the leadership of Costas Dellaportas and was originally founded by the late Dionysios Dellaportas, father of George Dellaportas and Costas Dellaportas, who passed away in 2019. 24-July-2021

Greek shipowner and operator Meadway Shipping & Trading’s late founder Dionysios Dellaportas’ sons have divided the company’s assets between George Dellaportas and Costas Dellaportas, with Costas Dellaportas now in control of Meadway Shipping & Trading, while his brother George Dellaportas has established Meadway Bulkers and Delaway Maritime. George Dellaportas led Meadway Bulkers recently acquired the 2012 built panamax bulk carrier 78K DWT MV Nord Sirius for approximately $20 million, marking a shift from their usual strategy as George Dellaportas led Meadway Bulkers generally avoids investing in secondhand bulk carriers, but current dry bulk market conditions have necessitated an exception. The growing difficulty in securing new-building slots, due to shipyards’ reluctance to take on new orders amid significant steel plate price increases, has contributed to this decision. At present, George Dellaportas led Meadway Bulkers owns and operates seven (7) bulk carriers. Recently, Costas Dellaportas led Meadway Shipping & Trading acquired the 2010 built ultramax bulk carrier 61K DWT MV Luna Rossa (formerly MV Ultra Prosperity) from Nagashiki Kisen. 9-May-2021

Dionysios Dellaportas, the founder and president of Meadway Shipping & Trading Inc, passed away at the age of 70; he founded Meadway Shipping & Trading Inc as a ship brokerage in 1988 and later expanded it into ship-owning, leading to the current ownership and operation of 12 bulk carriers, in addition to chartering 40 bulk carriers on a long-term basis. Dionysios Dellaportas was the first shipowner to open a chartering office in Singapore, having established the Singapore branch in 2009 and later the Dubai branch in 2018. Meadway Shipping & Trading Inc will now be led by his sons Costas Dellaportas and George Dellaportas. 16-July-2019

Greek shipowner and operator Meadway Shipping & Trading launched a strong venture in the Middle East through its UAE office, having opened the Dubai branch in July 2018. Meadway Shipping & Trading had previously established its first satellite office in Singapore in 2010. Will Stride has been appointed by Meadway Shipping & Trading to lead the Dubai office. Greek shipowner and operator Meadway Shipping & Trading has grown into an international dry bulk carrier operator. The Singapore office enabled Meadway Shipping & Trading to develop connections with Asian trading houses and shipowners, which supported the company’s business expansion. Meadway Shipping & Trading currently operates approximately 40 dry bulk carriers and owns a fleet of 12 dry bulk carriers. The core focus of Meadway Shipping & Trading is on supramax dry bulk carriers. The Dubai office of Meadway Shipping & Trading employs 5 chartering staff who manage short-term charters and will serve as a strategic hub for operations in the Middle East, Red Sea, South and East Africa, and India. The Middle East is experiencing a significant rise in the export and re-export of dry commodities, with major shipped cargoes including sulfur, aggregates, and alumina. Coal, chrome, and manganese are being shipped from South African countries, which are particularly well-suited to the supramax dry bulk carriers of Meadway Shipping & Trading. Meadway Shipping & Trading anticipates that 2019 will be a very strong year for the company, and the Dubai office may expand by hiring new shipbrokers for the chartering department to manage the growing volume of fixtures. 23-March-2019