Bulker owner Navibulgar is said to have ordered four handysize lakes-fitted newbuildings at its favourite shipyard, Yangzijiang Shipbuilding.
Shipbuilding sources familiar with the deal said Navibulgar has booked super-eco, 32,000-dwt vessels to be delivered in 2024. They believe the order is part of the shipowner’s fleet expansion and renewal programme.
The company had earlier said it was looking to own a fleet of 1.5m tonnes with an average age below seven years by the mid-2020s. It harbours an ambition to be “one of the leading shipowners in Europe in the sector of the so-called handysize bulk carriers”.
Navibulgar is said to be paying $32m each for the vessels, which will be built to meet the Energy Efficiency Design Index (EEDI) Phase 3 standards for greenhouse gas emissions, as well as the International Maritime Organization’s Tier III NOx standards.
Officials at Yangzijiang declined to comment, citing contract confidentiality, while Navibulgar did not reply to emails.
Navibulgar’s latest buying spree brings the total number of lakes-fitted bulkers it has placed at Yangzijiang to 12. The earlier eight vessels were ordered between 2020 and 2021 at a reported price of about $25m each.
The yard has already delivered five of those eight — the Vezhen, Verila and Perelik (all built 2022), Bogdan and Kom (both built 2021). It is scheduled to deliver the remaining three by the first half of 2023.
Yangzijiang is also constructing four 45,000-dwt handymaxes for Navibulgar. These ships, which will comply with EEDI Phase 3 standards, were ordered late last year. The company was reported to be paying $33m each.
Including the latest four lakes-fitted newbuildings, Navibulgar has ordered 22 bulkers at Yangzijiang since its first deal with the yard in 2017.
Navibulgar focuses on bulkers up to 45,500 dwt. Its website shows it has 32 bulkers in trading, ranging between 21,500 dwt and 45,500 dwt.
Yangzijiang’s shipbuilding revenue shot up by 78% year on year to $1.26bn for the first half of 2022. It said the rise was due to 35 vessels being delivered, compared with 23 in the same period last year.
The yard said it has secured 18 newbuildings worth $1.09bn this year, lifting its orderbook to 134 vessels worth $8.13bn.
