Greek owner Cape Shipping is returning to the dry bulk newbuilding market for the first time in more than 15 years after placing an order for two newcastlemax bulk carriers at China’s Dajin Heavy Industry.

Shipbuilding sources say the Adrianopoulos family-controlled company has contracted the yard for a pair of 211,000 dwt vessels, with deliveries scheduled for 2029.

The reported deal is worth about $153m in total and follows a recent stock exchange disclosure by Dajin Heavy Industry, which said it had secured contracts to design, build and deliver two newcastlemaxes for a unit of a Greek shipowner. Brokers have linked Cape Shipping to the project.

The order marks a notable shift for the Athens-based owner, which in recent years has largely focused its newbuilding investments on tankers and containerships.

Founded in 1987, Cape Shipping initially built its business in dry bulk before expanding into other sectors. Over the past decade and a half, however, the company’s newbuilding activity has centred mainly on tanker and boxship projects, including a recent order for three VLCC newbuildings.

Shipbuilding sources say the latest order reflects a broader change in investment focus by the Adrianopoulos family, with attention now turning back toward dry bulk shipping.

The deal also adds momentum to a growing wave of capesize and newcastlemax contracting by Greek owners.

Greek dry bulk owners have become increasingly active in the large bulker segment this year as strong long-term demand expectations for iron ore, bauxite and coal continue to support investment interest.

Danaos, the US-listed owner best known for its containership fleet, also has four newcastlemaxes on order at Dajin Heavy Industry, a yard traditionally associated with offshore units and specialised deck carriers.

Meanwhile, Alpha Bulkers, controlled by Anna Angelicoussis, is surfacing as another major Greek player expanding in the capesize segment. Market sources say Alpha Bulkers has placed an order for two capesize bulk carriers at Hengli Heavy Industries.

Fellow Greek owners Enesel and Neda Maritime have also recently moved into the same yard with capesize contracts. Other owners, including Capital Group, Safe Bulkers, Maran Dry, Navios Maritime Partners and Seanergy Maritime, have also booked capesize or newcastlemax vessels this year.