Taiwan’s Franbo Lines has broken with its tradition of ordering newbuildings at Japanese shipyards.
The bulker company has gone to China for the first time to order four ultramaxes at Jiangsu Haitong Offshore Engineering Equipment.
A company official confirmed the order, saying the 63,500-dwt ships will run on conventional fuel and be built to the International Maritime Organization’s Tier III NOx standards.
Franbo Lines said it did not order the new ships in Japan this time, as yards there could not deliver the newbuildings until 2027 or 2028.
“There are several reasons that we have ordered the newbuildings in Jiangsu Haitong,” the official said.
“The newbuilding price is competitive, and these are eco-fuel bulkers.
“We have checked on ships built by Jiangsu Haitong and find them to be of good quality. The bulk carrier newbuildings will also be fitted with Japanese-made equipment.”
Franbo Lines said Jiangsu Haitong is scheduled to deliver the first bulker in May 2025 and the remaining three vessels in July, August and November 2025.
Shipbuilding brokers said the early delivery dates for the quartet reflect that Franbo Lines had begun newbuildings discussions with the yard some time ago.
The Taiwanese owner said the order was part of its fleet upgrade and expansion programme.
It will be fixing out the new ultramaxes to charterers from Singapore and Hong Kong.
“We are close to concluding charter contracts for these four newbuildings,” the company said.
Franbo Lines has nine bulkers on the water.
It is scheduled to take delivery of two 40,000-dwt newbuildings from Hakodate Shipyard in June and September this year.
Franbo Lines said the handysize pair — part of a six-ship order that it signed in 2021 — has been fixed out to reputable Japanese and Canadian companies for five years.
The official said the company will continue to build its fleet through newbuildings. It has a target to order 20 vessels over the next five years.
