Greece’s DryDel Shipping has made another foray into the newbuilding market, expanding its orderbook to 10 ships.

The deal for a 64,000-dwt ultramax bulker is the Costas Dellaportas-controlled owner’s first new order since rebranding from Meadway Shipping & Trading earlier this year.

DryDel said the vessel will be built at the Shin Kurushima Dockyard in Japan.

No price was given, but the owner called the partnership with the shipbuilder “a significant chapter in our history”.

“It is a great honour to collaborate with Shin Kurushima … and we are proud to join the ranks of the select few Greek shipowners who have direct projects with this prestigious shipyard in Japan,” DryDel added.

The company expects to take delivery of the vessel in 2026.

The deal “represents a major step forward in our commitment to growth and excellence within the maritime industry”, the owner said.

In March, DryDel said it had brought in the 38,500-dwt Twin Delight on charter after it was delivered from Imabari Shipbuilding in Japan.

The owner is Soki Kisen, which is chartering the vessel out for three years at an undisclosed rate.

Big fleet plans

Dellaportas had earlier told Japan Maritime Daily that DryDel aims to expand its operational scale by increasing its long-term charter fleet from 19 to 30 vessels, including bareboat charters and leaseback deals.

In February, the Athens-based owner changed the name of the company to differentiate it from his brother George’s Meadway Bulkers.

The Greek siblings split the Meadway Shipping & Trading fleet in 2021 following the death of its founder, their father Dionysios, in 2019.