Shrewd Greek shipowning group, NGM Energy, has made its first reported bulk carrier acquisition of 2025—signalling a strategic shift in its asset playbook.

According to sources familiar with the deal, NGM is now linked to the 2020-built, 82,000 dwt kamsarmax Aom Sophie II, purchased from Japan’s Kyowa Kisen for just over $31m. The move is a significant departure from NGM’s traditional focus on mid-aged tonnage.

NGM’s latest play follows a series of opportunistic trades in recent years, including a standout deal in March 2024, when it offloaded the 2010-built, 180,000 dwt capesize Epic to Chinese buyers, netting a 75% return on the rusty vessel.

The firm’s flexible model—combining direct ownership with management on behalf of third-party investors—allows it to pivot between segments and sizes based on asset pricing, age profile, and charter market dynamics.