Greek owner Meadway Shipping & Trading has ordered a 42,300-dwt handysize at Oshima Shipbuilding in Japan.
The bulker will be delivered in the first quarter of 2026, according to reports in Japan.
No price has been reported, but brokers suggested that handysize newbuildings average around $30m.
The deal brings Meadway’s Japanese bulker orderbook up to eight ships after it signed a contract for a third ultramax at Tsuneishi Shipbuilding in May.
It also has four 40,000-dwt bulkers on order at Namura Shipbuilding.
Regional bank finance and lease deals with local owners have made Japan an attractive option for Meadway’s newbuilding project.
The deal is another example of Oshima’s recent openness to doing business with the Greek market.
Until two years ago, it had closed its doors to Greek owners after a dispute over a newbuilding deal dating back to the 1980s.
The shipbuilder is keen to build up its order backlog as it is also seeking work for its new shipyard at Koyagi in Nagasaki.
The Koyagi dry dock is one of Japan’s largest and Oshima hopes to begin production there this summer.
Oshima’s orderbook stands at 66 bulkers ranging from handysize to 100,000 dwt.
It has developed a close commercial and technical relationship with giant Japanese shipowner Mitsui OSK Lines.
They jointly developed sail technology for the 100,400-dwt bulker newbuilding Shofu Maru (built 2022).
MOL has also placed an order at Oshima for an LNG-powered 94,000-dwt bulker for delivery in 2026.
