‌【Interview】Drydel President and CEO Costas Delaportas, discuss Capesize business

dbg

日本海事新聞ニュース Japan Maritime Daily Dec 05, 2024 (Thu)

‌【Interview】Drydel President and CEO Costas Delaportas, discuss Capesize business

Costas Delaportas, President and CEO of Drydel Shipping

　Greek shipowner and operator Drydel Shipping (headquartered in Athens) has decided to enter the Cap ・・・ next %E3%80%80Greek+shipowner+and+operator+Drydel+Shipping+%28headquartered+in+Athens%29+has+decided+to+enter+the+Capesize+%28steel+raw+material+carrier%29+business.+We+spoke+to+Costas+Delaportas%2C+President+and+CEO+%28Chief+Executive+Officer%29%2C+who+visited+Japan%2C+about+the+company%E2%80%99s+future+business+strategy.+%3Cbr%3E%28Interviewer%3A+Hirofumi+Yamamoto%29+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+10+ships+remaining+on+order+%3Cbr%3E%E3%80%80--What+is+the+scale+of+DryDel%E2%80%99s+current+fleet%2C+including+company-owned+and+chartered+vessels%3F+%3Cbr%3E%E3%80%80%E2%80%9CSince+June%2C+we+have+been+actively+replacing+and+expanding+our+fleet+by+ordering+new+ships+and+selling+existing+ones.+Specifically%2C+the+company+took+delivery+of+four+40%2C000-dwt+Handysize+vessels+built+by+Namura+Shipbuilding.+At+the+same+time%2C+we+sold+four+of+our+older+ships+in+the+thriving+secondhand+vessel+market.+In+addition%2C+four+new+ships+have+been+ordered%2C+including+two+new+182%2C000+dwt+Capesize+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+currently+have+a+total+of+13+ships+in+our+own+fleet%2C+with+10+on+order.+We+are+operating+45+charter+vessels%2C+of+which+20+are+on+long-term+charter+contracts+and+25+on+short-term+charter+contracts.%E2%80%9C+%3Cbr%3E%E3%80%80--DryDel+plans+to+work+on+reducing+greenhouse+gas+%28GHG%29+emissions+through+technologies+such+as+%E2%80%9CAEROLINE%E2%80%9D%2C+which+reduces+wind+resistance.+You+are+also+working+to+comply+with+the+EEDI+%28Energy+Efficiency+Design+Index%29+Phase+3+fuel+efficiency+standards+for+new+ships%2C+which+will+begin+in+2025.+%3Cbr%3E%E3%80%80%E2%80%9CEnvironmental+issues+are+receiving+a+lot+of+interest+and+attention+in+relation+to+new+technologies+and+new+fuels.+Our+current+fleet+has+an+average+age+of+four+years%2C+and+we+intend+to+reduce+this+further.+Many+of+our+new+ships+feature+the+%E2%80%98AEROLINE%E2%80%99+design%2C+a+technology+that+reduces+wind+resistance.+Our+vessels+are+some+of+the+best+performing+designs+available+today.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThese+new+ships+fully+comply+with+the+NOx+%28nitrogen+oxide%29+Tier+III+Regulation%2C+and+will+reduce+fuel+consumption+by+30-40%25+and+emissions+by+around+40%25+compared+to+conventional+ships.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+a+flexible+approach+to+responding+to+changes+in+strategy%2C+including+responding+to+new+fuels.+However%2C+for+now+the+focus+is+on+conventional+electronically+controlled+main+engines+and+innovative+vessel+designs+that+deliver+the+ultimate+in+fuel+efficiency.+We+are+open+to+exploring+wind+technology%2C+alternative+fuels+and+other+innovations%2C+but+we+will+adopt+them+only+if+they+are+thoroughly+tested+and+proven+to+be+effective+and+efficient.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+Favorable+conditions+for+investment+%3Cbr%3E%E3%80%80--During+a+panel+discussion+hosted+by+Capital+Link+in+US+in+October%2C+DryDel+said+it+was+%E2%80%9Cconsidering+expanding+into+the+Capesize+business.%E2%80%9D+I+would+like+to+ask+about+your+objectives+in+entering+the+Capesize+business.+%3Cbr%3E%E3%80%80%E2%80%9CWe+have+a+strong+reputation+for+our+expertise+in+owning+and+operating+geared+dry+bulk+vessels.+As+a+rapidly+growing+company%2C+we+would+like+to+explore+different+size+segments+within+the+dry+bulk+sector+to+optimize+our+growth+and+profitability.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CBased+on+this+idea%2C+we+have+placed+an+order+for+two+new+182%2C000-dwt+Capesize+vessels+with+Namura+Shipbuilding.+The+two+vessels+are+scheduled+for+delivery+in+2028+and+will+feature+cutting-edge+design+and+install+a+scrubber+%28exhaust+gas+cleaning+system%29+to+ensure+optimal+performance+and+low+fuel+consumption.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CIn+the+Capesize+market%2C+the+order+backlog+for+newly+built+vessels+is+at+historically+low+levels%2C+creating+favorable+conditions+for+investment.+On+the+demand+side%2C+on+the+other+hand%2C+demand+for+Capesize+vessels+is+expected+to+increase%2C+especially+in+emerging+countries.+Investing+in+larger+vessels+will+enable+us+to+diversify+our+fleet+and+strategically+position+ourselves+to+take+advantage+of+business+opportunities+when+markets+improve.%E2%80%9C+%3Cbr%3E%E3%80%80--The+new+shipbuilding+price+is+soaring.+How+will+this+affect+future+business+policies%3F+%3Cbr%3E%E3%80%80%E2%80%9CNew+shipbuilding+prices+are+certainly+rising.+This+trend+isn%E2%80%99t+likely+to+reverse+anytime+soon.+Since+2020%2C+global+orders+for+new+ships+have+increased+significantly%2C+and+as+far+as+I+know%2C+Japanese+shipyards+have+their+slipways+full+until+2028.+This+excess+ordering+has+led+to+shortages+of+labor+and+materials%2C+which+have+led+to+rising+costs+and+caused+the+new+shipbuilding+prices+to+soar.+For+this+reason%2C+we+do+not+expect+ship+prices+to+fall+in+the+short+term.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CMeanwhile%2C+the+dry+bulk+market+has+shown+sustained+strength+in+recent+years.+However%2C+given+the+rising+costs+of+new+shipbuilding%2C+we+believe+it+is+prudent+to+tread+cautiously.+We+believe+that+modern%2C+environmentally+friendly+ships+will+have+advantages+over+older+ships%2C+improving+our+competitiveness+and+profitability.+Given+this+situation%2C+we+will+continue+to+focus+on+renewing+long-term+charters+with+existing+customers+to+maintain+stability+in+the+current+environment.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80%E2%96%A0+China%E2%80%99s+influence+is+limited+%3Cbr%3E%E3%80%80--Chinese+shipyards+are+rapidly+expanding+their+shipbuilding+capacity.+What+impact+do+you+think+Chinese+shipyards+will+have+on+the+dry+bulk+market+going+forward%3F+%3Cbr%3E%E3%80%80%E2%80%9CThe+fact+is+that+Chinese+shipyards+are+still+offering+slots+for+dry+bulk+carriers.+At+the+same+time%2C+however%2C+Chinese+shipyards+are+taking+on+significantly+fewer+orders+for+dry+bulk+carriers+than+before.+The+reason+is+that+the+slots+are+mainly+taken+up+by+LNG+%28liquefied+natural+gas%29+carriers%2C+tankers+and+large+container+ships%2C+and+it+makes+more+sense+for+shipyards+to+use+the+remaining+slots+for+more+expensive+vessels.%E2%80%9C+%3Cbr%3E%E3%80%80%E2%80%9CThere+are+fewer+shipyards+willing+to+build+dry+bulk+vessels%2C+and+we+do+not+see+this+having+a+negative+impact+on+the+dry+bulk+market.%E2%80%9C+%3Cbr%3E%E3%80%80--Is+there+a+possibility+that+you+will+expand+into+sectors+other+than+dry+bulk%2C+such+as+tankers+and+gas+carriers%2C+in+the+future%3F+%3Cbr%3E%E3%80%80%E2%80%9COur+focus+remains+within+the+dry+sector.+We%E2%80%99ve+just+diversified+into+different+size+classes+and+we%E2%80%99re+not+ruling+anything+out%2C+but+we%E2%80%99re+waiting+to+see+what+opportunities+arise.%E2%80%9C+%3Cbr%3E+%3Cbr%3E%E3%80%80Costas+Delaportas%3A+Studied+maritime+management+at+the+London+Guildhall+University+%28now+London+Metropolitan+University%29.+After+working+for+a+shipbroker%2C+he+joined+Meadway+run+by+his+father%2C+Dionysios%2C+in+2000.+He+served+as+Managing+Director.+In+February+2024%2C+Meadway+Shipping+changed+its+name+to+Drydel+Shipping.+He+currently+serves+as+President+and+CEO+of+Drydel+Shipping.+Born+in+May+1977%2C+47+years+old.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E