Greek shipowner Meadway Bulkers has ordered six 64,500 DWT Ultramax bulk carriers from Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd., according to market sources. The vessels are scheduled for delivery between 2029 and 2030. The ships will be built to Nantong Xiangyu SOE's second-generation "Elephant" design and fitted with conventional-fuel engines. The contract value has not been disclosed, but at current market rates of roughly $36 million per Ultramax vessel, the order is estimated at around $216 million. It represents the largest single shipbuilding contract placed by Meadway Bulkers, a company controlled by George Delaportas, since the firm was founded in 2021. Once all six vessels are delivered, Meadway Bulkers' fleet will grow to 26 bulk carriers, with Ultramax ships remaining its core vessel type. The company has traditionally ordered mainly from Japanese and South Korean yards, making this contract notable as a shift toward Chinese shipbuilding capacity. Nantong Xiangyu SOE has secured several other Ultramax orders in 2026, including from Monaco's Gestion for three vessels, Turkey's Aqmaris Gemi for eight, Bangladesh's AKIJ Resource for four, Greece's Goldenport for four, and Greece's Union Commercial for two. By early July 2026, the shipbuilder had delivered 100 Ultramax bulk carriers and held a total order book of 168 vessels from 38 shipowners. Xiangyu Offshore Equipment, established in December 2016, operates two shipyards and four production bases with annual capacity exceeding 3,000,000 DWT, building bulk carriers, dual-fuel stainless-steel chemical tankers, offshore wind turbine installation vessels and semi-submersible ships.