TDry bulk newbuild activity has been on the rise so far in 2026, with Greek owners being the main “culprits”. In its latest weekly report, shipbroking firm It translates to a ratio of order book to fleet of 11.0%, compared to 1,363 ships on order against a fleet of 14,360 units during the same period in 2025, when the ratio was 9.5%. In other words, while the active fleet grew by about 3.8% year-on-year, the order book increased by more than 20%, highlighting a clear acceleration in the shrinking appetite.
According to Xclusiv, “The composition of the order book remains highly concentrated in the outfitted and mid-sized segments. Ultramax vessels continue to dominate, with 505 units on order and a book-to-fleet ratio of 27.9%, slightly higher than the 25.9% recorded in 2025. Kamsarmaxes follows with 349 ships on order, although down from 22.8% in 2025 to 19.3% in 2026. Manual units remain another important part of the forward view picture, with 272 ships on order and a stable ratio of around 9%, however, the most striking increase is seen in the Newcastlemax sector, where the order book has almost doubled from 94 ships in 2025 to 178 ships in 2026, pushing the order book to fleet ratio from 18.8% to 34.2%.”
Source: Exclusive
“Deliveries were also up in 2026. From early January to late June 2026, a total of 310 newbuild bulk carriers were delivered, compared to 266 in 2025, representing a 16.5% increase. Ultramax deliveries remain unchanged at 98 units, but Kamsarmax deliveries more than doubled from 45 ships in 2025 to 98 ships in 2026. Deliveries are also flat at 70 units, while Newcastlemax deliveries were 11 from 14 vessels in 2025. This delivery profile indicates that fleet growth is ultimately increasingly concentrated around the Ultramax and Kamsarmax sectors, which remain favored sectors for owners looking for commercial flexibility and wider employment options,” the shipbroker said.
“Contracting activity represents a stronger signal,” Xclusiv added. “In the period from 2026 to the end of June, 285 contracts were concluded for the transportation of bulk cargo, compared to 172 contracts in 2025, an increase of almost 66%. Ultramaxes led the way with 109 contracts, followed by Kamsarmaxes with 52, Handysizes with 48, and Newcastlemaxes with 37, and Capesizes at 26. This shows that owners are not only replacing older tonnage, but are also positioning themselves in sectors where they expect stronger utilization and liquidity in the long term.
Source: Exclusive
Meanwhile, “Greek owners have been particularly active. Greek deliveries increased from 20 vessels in 2025 to 76 in 2026, representing nearly 25% of total bulk carrier deliveries this year. Their delivery schedule is largely focused on Kamsarmaxes and Ultramaxes, with 47 and 18 units respectively. On the contracting side, Greek activity has risen more sharply, from just 12 contracts In the first six months of 2025 to 69 in the same period in 2026. This represents about 24% of all dry bulk contracts concluded this year. “Greek owners have ordered 23 Kamsarmax vessels, 22 Capesizes, 12 Ultramax and 12 Newcastlemax, showing a clear shift towards larger and more commercially liquid tonnage. Overall, the data indicates that Greek owners are not only keeping an eye on the market, but are actively helping to shape the next phase of dry bulk fleet replenishment.”
Nikos Rousanoglou, Global Hellenic Shipping News
