Angelicoussis’ Maran Dry Management Inc. has contracted Hengli Shipbuilding to construct four capesize bulk carriers.

In a Shanghai stock exchange announcement on Feb. 13, Guangdong Songfa Ceramics Co., Ltd. (Songfa) confirmed that its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. signed contracts with Maran Dry Management for 4 capesize vessels as part of a broader 17-ship construction package worth between $1.6bn and $1.8bn.

The remaining 13 vessels were taken by what the filing described as “well-known” European shipowners. The shipbuilder didn’t disclose details about the shipowners. It only mentioned that they have “good credit standing” and the “ability to perform the contracts.”

The Angelicoussis Group, a privately owned group of affiliated shipping companies dating back to 1947, operates a diversified fleet serving the oil, gas and dry cargo markets through Athens-based companies, Maran Tankers Management (MTM), Maran Gas Maritime (MGM) and Maran Dry Management (MDM), and Maran Shuttle Tankers (MST), based in Stavanger, Norway.

To remind, Maran Shuttle Tankers (MST) became affiliated to the Angelicoussis Group in 2025, and has been in the shuttle tanker business for more than 20 years.

Maran Dry Management Inc. was established in 2001 as Anangel Maritime Services Inc, to undertake the commercial, technical and operational management of dry bulk vessels. The Maran Dry Management controls a fleet of 40 ships. In total, the Group has a fleet portfolio of around 158 vessels and 22 ships on order.