Greek shipowner Panos Efthimiadis is making his first move into dry bulk shipping, with his Athens-based Leon Shipping & Trading linked to a kamsarmax newbuilding at China’s Hengli Heavy Industries, lifting the company’s newbuilding tally to five vessels.
The single 82,000 dwt kamsarmax is a conventionally fueled vessel scheduled for delivery between January and March 2029, according to orderbook data cited by shipbroking sources, with the order first reported on November 9, 2026. No contract value has been disclosed for the newbuilding.
From Tankers to Dry Cargo
Efthimiadis founded Leon Shipping & Trading in 2010 after spending 22 years with family-owned Lotus Shipping, and the company has traditionally concentrated on the tanker sector, including MR product carriers and older panamax tankers. The Hengli kamsarmax order marks the first time the firm has invested in dry bulk tonnage, adding a new segment to its fleet renewal and expansion programme.
Alongside the dry bulk move, Leon has also been linked to two LR1 product tanker newbuildings, adding to a pair of 50,000 dwt MR tankers recently booked at Cosco Shipping Heavy Industry in Guangdong. Those two MR tankers, carrying hull numbers 1350 and 1351, are scheduled for delivery in March and August 2029, with current market assessments putting similar MR newbuildings at around $53 million each.
Fleet Reshuffle Accompanies Expansion
The newbuilding push comes alongside a reshuffling of Leon’s existing tanker fleet. The 2008-built, 50,000 dwt Leon Wisdom has been linked to a $26 million sale to Union Maritime, while sistership Leon Grace was sold last month for a reported $23.5 million to UAE interests and subsequently renamed Bella Sky.
Both of the MR tankers now on order at Cosco were acquired earlier this year from International Seaways for a combined $32 million, underlining the pace at which Leon has been turning over tonnage while simultaneously building out its newbuilding book across tankers and, now, dry bulk.
Hengli’s Expanding Greek Client List
The order adds Leon Shipping to a growing roster of Greek owners placing kamsarmax contracts at Hengli Heavy Industries, which has emerged as one of the most active shipyards in the current newbuilding cycle. The 82,000 dwt kamsarmax design has proven popular among owners seeking early delivery slots as yard capacity tightens globally.
Other Greek dry bulk and tanker owners have turned to the same Chinese yard in recent months for both bulk carriers and crude tankers, reflecting a broader trend of Greek shipowners diversifying their newbuilding programmes across multiple shipyards and vessel segments amid strong charter market conditions.
Why it matters
The order illustrates how established Greek tanker owners are diversifying into dry bulk as part of broader fleet renewal strategies, while reinforcing Hengli Heavy Industries’ position as a preferred Chinese yard for Greek shipowners across multiple vessel segments. It also reflects continued momentum in newbuilding contracting despite elevated prices and limited near-term delivery slots, with deliveries now being pushed out to 2029.
Source: Splash247
