Sumant Ahlawat-led Apeejay Shipping has restructured its dry bulk fleet, choosing larger vessels at the cost of raising its overall fleet age.
The Indian shipping major has acquired two 18-year-old, 83,000 dwt sister ships — Star Danai and Star Georgia — from Greece’s Star Bulk Carriers for $22.84 million. Both Japanese-built vessels were added to the fleet in May and August 2025, according to VesselsValue.
These mark Apeejay’s first purchases of 2025 and signal a strategic pivot towards higher capacity tonnage. However, the company simultaneously sold two younger COSCO Guangdong-built supramaxes, delivered in 2009 and 2011, for a similar combined price.
Following the transactions, Apeejay’s dry bulk fleet stands at nine vessels with an average age of 18 years, slightly older than before the reshuffle.