DryDel’s CEO at the stage of 28th Annual Marine Money Greek Ship Finance Forum

Why Greek Shipowners Are Expanding with Large Newbuilding Orders

DryDel Shipping's CEO, Costas Delaportas, joined the panel at the 28th Annual Marine Money Greek Ship Finance Forum to discuss what gives Greek owners the confidence to commit to large newbuilding programs in an uncertain market.

For DryDel, fleet renewal is a key part of the answer.

Around 40% of the dry-bulk fleet is already more than 15 years old, and by the time many of today’s newbuildings deliver in 2029–2030, a significant part of the existing fleet will be approaching or exceeding 20 years of age.

At the same time, the new generation of vessels offers better fuel efficiency, new engine technology, NOx Tier III compliance, and a much stronger environmental footprint.

At DryDel, we have committed more than $1 billion to newbuilding investments at Japanese shipyards over the past few years, with 13 newbuildings expected to join the fleet through 2029.

Our approach is not to try to predict where freight rates will be in one particular year. It is to own the right ships for the next 15–20 years and through several shipping cycles.

“We are not buying today’s market. We are buying tomorrow’s fleet.”

Thank you to Marine Money, Kevin Oates and Jerzy Majewski for hosting an insightful discussion and facilitating a valuable exchange of perspectives.