Meadway Bulkers, a Greek owner of dry bulk vessels, has recently placed an order for the construction of six new oil tankers at the Nantong Xiangyu Shipbuilding yard in China. This move marks the largest commitment the company has made in shipbuilding since it became independent in 2021.
Order Details and Tanker Features
Information indicates that these six oil tankers will have a deadweight tonnage (dwt) of 64,500, with deliveries scheduled between 2029 and 2030. Shipbuilding industry sources have stated that these vessels will be built based on Xiangyu's second-generation Elephant design. The exact price of these tankers has not been disclosed, but estimates suggest that similar tankers built in China cost around $36 million each, implying a total cost of approximately $216 million for this series.
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Fleet Development and International Collaborations
With this new order, Meadway's fleet will grow to 26 vessels, combining existing ships and new orders. The company has sourced part of its modern fleet from Japanese shipyards, including Namura and Imabari. In September, Meadway added the 66,000 dwt vessel Elisabetta to its fleet. This ship was built at the Tsuneishi Zhoushan yard, and several other new vessels are expected to join the fleet in 2026.
The company is also pursuing the modernization of its fleet by acquiring second-hand vessels. In January, they purchased the Good Carry, a 64,507 dwt ship previously owned by Diana Shipping, for approximately $26.4 million. This deal was followed by the acquisition of the Arabica, built in 2012, for about $19 million.
Meadway also has another oil tanker under construction with a capacity of 64,000 dwt at the Imabari Shipbuilding yard in Japan, scheduled for delivery in the second quarter of 2027. The company was established in Athens and is managed by George Delaportas, who founded Meadway in 2021 after separating from his family's shipping interests.
This new contract adds to a busy period for Nantong Xiangyu, which has recently received orders from several Greek owners, including Goldenport and Atlantic Bulk Carriers, along with contracts from international clients such as Monaco-based Gestion Maritime.
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