Ferry operator United Marine Egypt (UME) is believed to have moved into the bulker arena with an order for newbuildings in China.
The Cairo-based company is said to have commissioned New Dayang Shipbuilding to build two 64,000-dwt vessels to be delivered in 2027.
Officials at New Dayang declined to comment, citing contract confidentiality. UME has been contacted for comment.
The Egyptian company’s newbuildings are already listed on Clarksons’ Shipping Intelligence Network. The database shows that the duo was ordered last month and will be operated by Monaco’s C Transport Maritime.
The price of the ultramaxes has yet to emerge, but newbuilding brokers said Chinese shipyards would typically seek around $35m apiece for such vessels.
They will be built using New Dayang’s in-house Crown 63-Plus ultramax design, which meets the International Maritime Organization’s Energy Efficiency Design Index Phase 3 standard.
UME was founded in 2004 by current chairman Mohamed Badawy, who in 1996 established the Egyptian branch of Gulf Agency Co.
The company was set up as a dry bulk operator and subsequently became one of the leading carriers of wheat for the Egyptian government using chartered panamaxes. It has strong ownership and commercial links with Swedish bulker operator Baltic Bulk Carriers.
UME’s website shows it owns three ropaxes — the 17,100-gt Wasa Express (built 1981), 7,600-gt Gubal Trader (built 1979) and 24,700-gt Poseidon Express (built 1990).
Based in Jiangsu, New Dayang became state-owned in 2018, when Sumec Marine, a subsidiary of China National Machinery Industry Corp, a former creditor, took it over.
New Dayang has been contracting ultramax newbuildings. It has so far secured 20 ships this year, including the UME pair.
In January, the shipyard sealed its first Japanese newbuilding contract when tonnage provider Kasuga Kaiun ordered two ultramaxes for delivery in the third quarter of 2026.
Jonathan Boonzaier contributed to this story.
