Hong Kong’s KC Maritime has ended its newbuilding hiatus with an order for two bulk carriers at a Chinese shipyard.

The bulker owner has returned to Cosco Shipping Heavy Industry Zhoushan (Cosco Zhoushan) and booked two 63,600-dwt ultramaxes.

KC Maritime chairman Gautam Chellaram confirmed the bulk carrier order and said the newbuildings form part of the company’s fleet expansion plan.

“We have a lot of confidence working with Cosco Shipyard,” said Chellaram.

He did not disclose the newbuilding price of the ultramaxes but brokers suggest they would cost around $31m each as they are of the latest design developed by the shipyard. The vessels will comply with the International Maritime Organization’s Phase 3 standards of the Energy Efficiency Design Index.

Cosco Zhoushan is scheduled to deliver KC Maritime’s first newbuilding in the second half of 2023 and the second ship during the first half of 2024.

The last time KC Maritime ordered newbuildings was in 2014, when it contracted Cosco Zhoushan to build one kamsarmax and two ultramax bulk carriers. The shipyard delivered the three ships in 2017 and 2018.

KC Maritime’s fleet expansion plan appeared to have started last year. According to online database VesselsValue, the company acquired two secondhand bulkers. It bought the 61,400-dwt Darya Anita (ex-Clipper Triton, built 2013) and the 63,500-dwt Darya Maya (ex-Sage Danube, built 2012). The purchase price was not shown.

The company currently has 12 bulk carriers trading. The fleet consist of five kamsarmaxes, six ultramax and one supramax bulker.