Nasdaq-listed EuroDry has joined the queue of owners with new ultramaxes on order in China.
The Greek owner said it had signed a contract with Nantong Xiangyu Shipbuilding for the construction of two 63,500-dwt bulkers.
They are costing $71.8m combined, to be financed with a mix of debt and equity.
EuroDry said the geared eco-ships will be delivered during the second and third quarters of 2027.
Chairman and chief executive Aristides Pittas said: “The addition of two modern ultramax vessels in our fleet will solidify our presence in the supra/ultramax segment by increasing our fleet in this segment to eight vessels, all with eco-type engines and an environmentally friendly footprint.”
He added: “These contracts reflect our company’s commitment to growing and modernising our fleet and also highlight our focus on generating returns to our shareholders through timely and accretive investments.”
EuroDry has 13 ships currently. The latest duo represent its only current newbuildings.
TradeWinds has reported on a slew of ultramax contracts in the last few days alone.
On Wednesday, China’s Ningbo Ocean Shipping more than doubled its bulker fleet with a new deal.
The shipowner, better known for its container ships, has picked domestic yard Jiangsu Haitong Offshore Engineering to build four 64,000-dwt vessels for delivery from 2026.
Before that, Norwegian shipowner J Ludwig Mowinckels Rederi (JL Mowinckels) revealed it is aiming at the ultramax sector with a new order in China.
Chief executive Geir Belsnes told TradeWinds that the company has signed a contract for a 63,500-dwt bulk carrier, also at Jiangsu Haitong Offshore.
The eco-design vessel will be delivered in the third quarter of 2025.
And Taiwan Navigation ordered a pair of ultramax bulkers as part of its fleet renewal.
It struck a deal with Japan’s Oshima Shipbuilding for the 64,000-dwt pair, for delivery in 2028.
A Taiwan Navigation official confirmed the order.
