Greek shipowner Stem Shipping, owned by the Bodouroglou family, has acquired a 12-year-old Ultramax bulker from Turkey’s Ciner Shipping to replace the vessel destroyed in the Red Sea three months ago during a Houthi attack. The newly purchased ship, the 63,200 dwt Konya built in 2013, reportedly cost around $18.4 million. Nearly identical to the lost vessel, it allows Stem Shipping to quickly restore operational capacity as the freight market shows signs of recovery.

The move highlights the company’s strategy to maintain fleet resilience amid geopolitical risks. Ultramax bulkers remain a popular and flexible segment in volatile markets, while the deal price reflects the moderate rise in secondhand ship values following the recent rebound in charter rates. Founded by the Bodouroglou family, Stem Shipping operates across bulk, tanker, and container segments and is known for its diversified approach to global chartering.