Alpha Bulkers Shipmanagement is adding its first newcastlemax bulkers to its fleet.
The Athens-based company revealed on its website that it has a pair of 210,000-dwt vessels under construction at China’s Shanghai Waigaoqiao Shipbuilding (SWS).
The newbuildings, identified as Hull Nos 1525 and 1526, are scheduled for delivery in January and May, according to Clarksons' Shipping Intelligence Network.
Shipbuilding sources said SWS put the pair on the sales market early this year. Alpha Bulkers bought the pair in April, but the resale deal stayed under the radar.
An SWS executive confirmed the ships were sold to Alpha Bulkers.
The newbuildings were among options for four vessels previously held by ICBC Leasing. The Chinese leasing company did not exercise the options, as it had failed to find employment contracts.
The other two options were reportedly bought by Japan’s Santoku Senpaku in March. The Osaka-based owner was reported to have paid $52m each for the scrubber-free bulkers.
Shipbuilding source believe Alpha Bulkers has paid the same price as Santoku, since SWS put all four bulker newbuildings up for resale at the same time.
VesselsValue estimates an SWS newcastlemax newbuilding with delivery in 2022 is worth about $65m.
Shipbuilding brokers said prices for newcastlemaxes on the resale market are rising with shipbuilding prices, which have spiked by more than 15% since January due to a hike in steel plate costs.
Alpha Bulkers was last linked to newbuildings in 2017, when it booked four kamsarmaxes at Yangzijiang Shipbuilding. It has since taken delivery of the quartet.
A few months before booking the kamsarmaxes, Alpha expanded its fleet further through two acquisitions on the secondhand market. It bought the 181,000-dwt Tilda Oldendorff (built 2011) before renaming it Alpha Grace, as well as the 82,000-dwt SBI Rock (built 2016), which is now the Alpha Discovery.
At the same time, the Greek shipowner has been busy clearing out older ships, selling five capesizes for further trading or demolition between April 2019 and February of this year.
The Greek shipping company is controlled by Anna Angelicoussi-Kanellaki and Fragiskos Kanellakis. Its website features a fleet of 33 ships ranging from panamaxes to newcastlemaxes.
Harry Papachristou contributed to this article
