DryDel secures five-year K Line cover for capesize newbuilds

Namura Greek owner DryDel Shipping has secured long-term employment for all four of its capesize newbuildings, fixing the vessels to Japan’s K Line years before they are due for delivery. The 182,000 dwt quartet, under construction at Namura Shipbuilding, will enter five-year time charters with the Japanese shipping group upon delivery. Two ships are scheduled to join the fleet in 2028 and the remaining pair in 2029. The contracts cover DryDel’s first move into the capesize segment and come less than a year after the company expanded its Namura orderbook from two ships to four. DryDel said the vessels have been fixed on hybrid charter structures combining a guaranteed earnings floor with exposure to the capesize market, allowing the owner to retain upside if freight rates strengthen while securing long-term revenue visibility. The scrubber-fitted ships are being built to Tier III and EEDI Phase 3 standards and form part of DryDel’s strategy of investing exclusively in Japanese-built tonnage. The owner currently has 13 dry bulk vessels under construction at Japanese yards after investing more than $1bn in newbuildings since 2019. Splash reported last December that DryDel had doubled its capesize orderbook by returning to Namura for a fourth vessel, continuing a rapid fleet expansion programme centred on Japanese shipbuilders. The company has since added further kamsarmax and ultramax orders at Shin Kurushima, Nihon Shipyard and Oshima, extending its orderbook through 2030. Follow Us Adis Ajdin Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy. Newsletter DAILY SPLASH NEWSLETTER Subscribe now for FREE daily news updates. Subscribe Read Next August 4, 2026 Torm tied to MR newbuild series in China August 4, 2026 Minerva adds to boxship newbuild series August 4, 2026 Arcadia expands newbuild programme with Hengli LR2 trio August 4, 2026 Three seriously injured as drone strikes Turkish roro off Novorossiysk August 4, 2026 Crewmember missing after bulker struck in Hormuz Back to top button