Steel-hungry shipowner George Economou is going all in on shipping.

Shortly after placing a string of tanker and bulker newbuildings in China, the major Greek owner is being linked to a purchase of the last two newcastlemaxes in the fleet of Mangrove Partners, a New-York based investment manager.

According to US and Athens-based brokers, Economou company TMS Bulkers is spending a combined $126m on the acquisition of the 208,200-dwt MP The Vrabel and MP The Vinatieri (both built 2021).