Costas Delaportas (DryDel Shipping): New Houston Setup Operational Since Early 2025 – $1 Billion Investment in Eco-Friendly Ships by 2028

Costas Delaportas speaks about DryDel Shipping’s next-generation eco shipbuilding program, the company’s new U.S. office, and the state of the market.

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WRITTEN BY: The TOC Team | PUBLISHED: Sept. 23, 2025 (00:01)

 

Costas Delaportas, President and CEO of DryDel Shipping, discusses the company’s next-generation eco-friendly shipbuilding program, its new entity in the United States, and the current state of the market, as part of The TOC’s special feature on shipping.

As he notes, DryDel Shipping’s total investment program amounts to nearly $1 billion, reflecting its commitment to efficiency and sustainability. A key contributor to this strategy is the selection of top-tier Japanese shipyards, which ensures both reliability and long-term value.

The company is currently executing an extensive shipbuilding program stretching through 2028, and it charters vessels on both long- and short-term contracts. It also manages a large volume of third-party cargo - exceeding 6 million metric tons per year.

DryDel maintains a global presence with offices in Athens, Dubai, Singapore, and São Paulo, and most recently opened a new office in Houston in early 2025. Furthermore, in November 2025, the company is expecting delivery of a new Ultramax vessel from Tsuneishi Shipbuilding.

 

The Fleet's Shift to Eco-Friendly Ships

How do you evaluate the decision to move toward eco-friendly vessels so far?

DryDel has implemented a clear strategy in green shipping. Our fleet currently includes 12 eco-friendly dry bulk vessels (Kamsarmax, Ultramax, and Handysize - 82,000, 64,000, and 40,000 dwt respectively), with an average fleet age of just 4 years. Additionally, 10 more newbuilds are under construction, including 2 Capesize vessels.

Our nearly $1 billion investment reflects our firm commitment to efficiency and sustainability. Choosing top Japanese shipyards ensures reliability and long-term asset value.

I am fully satisfied with our decision to invest in conventionally fueled ships that are, however, equipped with Tier III/Phase 3 electronic engines and optimized hull designs, significantly reducing fuel consumption and emissions.

Alternative fuels like ammonia, hydrogen, and methanol are still at an early stage. Once a reliable, widely accepted solution emerges that ensures both decarbonization and efficiency, we will certainly invest in that direction as well.

 

Upcoming Ship Deliveries

Are new vessel deliveries expected in the near future? What kind?

As mentioned earlier, DryDel Shipping is implementing a shipbuilding program that runs through 2028.

In November 2025, we will take delivery of a new Ultramax vessel from Tsuneishi Shipbuilding.

In 2026, we expect the delivery of:

  - Two Handysize vessels from Oshima Shipyard

  - Two additional Ultramax vessels, one being built by Tsuneishi Shipbuilding and the other by Shin Kurushima Shipyard.

In 2027, one Kamsarmax will be delivered from Tsuneishi Shipbuilding.

In 2028, our fleet will further expand with:

  - Two Capesize vessels from Namura Shipbuilding

  - Two more Ultramax vessels, from Tsuneishi Shipbuilding and Imabari Shipbuilding, respectively.

With this program, DryDel's fleet will cover the full range of dry bulk vessel sizes, from the smallest to the largest bulk carriers, reinforcing our strategic presence across all major market segments.

 

Global Office Network

You now have five offices around the world. What insights do they offer into the global shipping sector?

Our company is not limited to traditional ship ownership. We are also actively engaged in ship and third-party cargo management (Operator model).

As an operator, DryDel charters vessels for both short and long periods, and manages a large volume of third-party cargo exceeding 6 million metric tons annually.

Our first operating office was established in Singapore in 2010 - a pioneering move at the time that marked our strategic expansion beyond classic shipowning in Greece.

This was followed by the opening of an office in Dubai in 2018. Then São Paulo, Brazil in 2024, and most recently, Houston, USA in early 2025.

Alongside our headquarters in Athens, we now have a presence in major maritime hubs around the world, enabling us to serve local clients in Asia, Europe, the Persian Gulf, and Latin America.

The market intelligence we receive from our network of brokers and traders is vital to shaping our commercial strategy. Our global footprint gives us a significant competitive advantage and the agility to position and operate our fleet effectively, leading to profitability and high customer satisfaction across international markets.

Overall, the outlook for global trade remains positive. While geopolitical developments, energy issues, and rapid technological shifts significantly impact our sector, I remain cautiously optimistic that stability will prevail - creating the right conditions for further growth in international shipping.

 

Most Recent Office Opening

Which is your most recently opened office, and where is it located?

Our most recent office opened in Houston in early 2025. This was a strategic expansion after two years of preparation, aimed at strengthening our presence in North America and staying closer to clients and cargoes in the region.

I have always believed that Houston is a region of strategic importance, with intense maritime activity.

Through DryDel Houston, we aim to enhance our brand visibility in North America and engage more directly with local clients and cargo opportunities.