Ciner Shipping has returned to China’s New Dayang Shipbuilding for a new series of four bulk carriers.
The move marks the continuation of the Turkish shipowner’s robust presence in the shipbuilding sector over the past three years, with the 64,100-dwt vessels set for delivery in 2027.
New Dayang describes Ciner as one of its most important clients, having initiated their partnership with a bulker order in 2012. With the latest deal, the tally of ultramaxes on order from Ciner at the yard is at 15.
These bulkers will be built to the yard’s Crown 63-Plus ultramax in-house design, which meets the International Maritime Organization’s Energy Efficiency Design Index Phase 3 standard.
Pricing details have not been disclosed, but newbuilding brokers said Chinese shipyards such as New Dayang are seeking around $34m apiece for such vessels.
Meanwhile, Ciner is in the process of taking delivery of four ultramaxes it ordered at New Dayang in 2021 at $30m each.
The first of these, the 64,700-dwt Brighton (built 2024), was delivered in January. The subsequent three are scheduled to be handed over in June, August and October.
Clarksons’ Shipping Intelligence Network shows that Ciner’s orderbook also consists of three kamsarmax bulk carriers and 10 handysize bulkers, all under construction in China.
Chengxi Shipyard is building the 88,800-dwt bulk carriers, while the 40,000-dwt ships are being built at Jiangmen Nanyang Engineering.
Chengxi will be delivering the trio of kamsarmaxes in July, September and November this year, while Jiangmen Nanyang is scheduled to deliver the 10 handysize bulkers between May 2024 and 2026.
Founded in 2009, Ciner stands out among numerous Turkish shipping ventures that emerged during the depths of the 2008 global financial crisis, backed by investments from the mining, media and textiles industries.
Since 2019, the Istanbul-based company has arranged over $1bn in Chinese leasing transactions for secondhand ships and newbuildings.
Its partners have included SPDB Financial Leasing, CSSC Leasing, China Huarong Financial Leasing, China Merchants Bank Leasing and AVIC Leasing.
New Dayang, formerly Dayang Shipbuilding, became state-owned in 2018 when former creditor Sumec Marine, a subsidiary of China National Machinery Industry Corp, took it over.
The yard, equipped with one dry dock and one slipway, has built up an orderbook of 63 vessels and is now selling 2027 newbuilding slots.
