George Chatzis-led Newport SA has made its first acquisition of 2025, playing it safe with a modestly priced handysize bulker. 

The Piraeus-based owner has emerged as the buyer of the 38,300 dwt Zudar (built 2011, Imabari) from Germany’s Termare Shipmanagement for around $13.5m — roughly $2m less than what it paid for a sister ship in November last year. The deal brings Newport’s handysize fleet to 13 ships, all Japanese-built. The company continues to favour attractively priced non-eco tonnage on the secondhand market, with its handy fleet averaging 14 years of age. 

Founded in 2004, Newport SA has built a reputation for consistency in the dry bulk trades, favouring quality Japanese tonnage and long-term operational stability. The measured approach has helped the firm evolve from a low-profile operator into a respected name among Greece’s small to mid-sized bulker owners.