Maran Dry Management has re-entered the newbuilding market, lining up a series of capesize bulk carriers at China’s Hengli Heavy Industry.

The bulker arm of the Angelicoussis Shipping Group, led by Maria Angelicoussis, has contracted four firm capesize vessels at the Dalian yard, with options that could lift the series to six ships in its first bulker order in nearly a decade.

The order marks Maran Dry’s first return to bulker contracting since 2017, when it booked newcastlemaxes at Shanghai Waigaoqiao Shipbuilding.

Maran Dry controls a fleet of around 40 bulkers, focused on the capesize and newcastlemax segments. The latest move signals renewed confidence in the larger end of the dry bulk market, where owners have been weighing long-term fleet renewal against tighter environmental rules and yard availability.

Hengli’s parent Songfa Ceramics disclosed the contracts as part of a broader 17-ship package worth between $1.6bn and $1.8bn. In addition to Maran capes, the batch includes one LR2 tanker, eight 306,000 dwt VLCCs, and four 6,000 teu containerships. The yard said the counterparties are European owners but did not name them.

The Dalian-based builder has been gaining ground in the large tanker and bulker segments, attracting a growing list of Greek clients. Capital Maritime and Seanergy are among the other Greek owners recently linked to capesize orders in China, while several have also signed for kamsarmax newbuildings.

For Maran Dry, the capesize order underlines a return to expansion mode after years of relative restraint on the contracting front. If all options are declared, the Angelicoussis group could add up to six new capes to its fleet later this decade, reinforcing its presence in the core iron ore and coal trades.