en.Wedoany.com Reported - Greek owner Aristides Pittas is continuing to expand his dry bulk fleet through his affiliated companies at Hengli Heavy Industries, adding new kamsarmax bulker orders.

Hengli Heavy Industries stated that Eurobulk, controlled by the Pittas family, has expanded its kamsarmax project at the yard to four vessels, following the signing of contracts for two additional 82,000 dwt bulk carriers. The latest contracts follow a previously undisclosed order for two sister ships, bringing the total orderbook at the Dalian-based yard to four vessels.

Pricing details were not disclosed, but market estimates place the price of a Chinese kamsarmax newbuilding at approximately $37 million per vessel. Eurobulk provides administrative, technical, and commercial management services to Nasdaq-listed EuroDry and containership owner Euroseas, both of which are led by Pittas.

The move further expands EuroDry's overall newbuilding program, which now stands at six vessels. At the end of 2024, the US-listed company, which currently operates 11 bulk carriers, ordered two ultramax bulkers at Nantong Xiangyu Shipbuilding, with delivery expected by the third quarter of 2027. These vessels will also be managed by Eurobulk.

Hengli stated that Eurobulk's repeat orders reflect confidence in the yard's shipbuilding capabilities and mark a deepening of the relationship between the two companies. The order also adds to the growing interest of Greek owners in Chinese bulker construction, as owners continue to favor Chinese yards for their competitive pricing and available delivery slots.

Hengli Heavy Industries has rapidly become the preferred yard for Greek dry bulk owners targeting the kamsarmax segment. In recent months, other Greek owners including Star Bulk Carriers, Efnav, Oceanbulk Maritime, Aegean Bulk, and Centrofin have all signed substantial kamsarmax orders with the Chinese yard.

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