Taiwan’s Hsin Chien Marine is poised to order a newcastlemax bulker at a Japanese shipyard.

Well-placed shipbuilding sources said the bulker owner is in close discussion with Japan Marine United (JMU) for one 208,000-dwt ship to be delivered in 2020. No price was disclosed.

A shipping source familiar with Hsin Chien confirmed the company’s newbuilding intention, adding that the bulker will be ordered against long-term employment to Japan’s NS United.

Hsin Chien is a joint venture between Taiwanese shipowner Harvey Chiu and NS United.

“There is a close relationship between Hsin Chien and NS United,” said the shipping source. “The bulker newbuilding is part of the two companies’ fleet renewal programme.”

Taipei-based Hsin Chien operates as a tonnage supplier in the larger ship segments and as an operator of its own vessels in the handysize bracket. Hsin Chien currently has around 30 bulk carriers on the water.

The company recently took delivery of two newbuildings — the 39,000-dwt New Momentum (built 2018) from Shikoku Dockyard and the 62,000-dwt New Confidence (built 2018) from Oshima Shipbuilding.

TradeWinds understands that Hsin Chien is scheduled to take delivery of two more ultramax bulk carriers this year — two handysize bulkers and a pair of 62,000-dwt vessels — between 2019 and 2020.

“Hsin Chien has continuously expanded and renewed its fleet for the last few years,” said the shipping source.

Besides being active in newbuildings, Hsin Chien is also busy on the sale and purchase front.

The Taiwanese shipowner was recently reported to have sold the Hanjin Heavy Industries-built, 180,000-dwt New Mighty (built 2011) to South Korea’s H-Line for $27.5m.

New Creation

According to online database VesselsValue, Hsin Chien sold two Shikoku Dockyard-built handysize bulkers last year — the 46,000-dwt New Creation (built 2006) and New Dynamic (built 2007) — for $9.2m each.

The New Creation was purchased by Ocean Ship Management in Singapore, while the New Dynamic was acquired by Diligent Holdings in Greece. In 2016, the company sold three vessels.