China’s Ningbo Ocean Shipping is more than doubling its bulker fleet with a new ultramax order.
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.
The company had gone out to tender in October for a quartet of ships.
A statement issued by Ningbo Ocean’s parent Zhejiang Energy Group said the winning offer was CNY 1.07bn ($148m) from Haitong Offshore.
This equates to $37m per bulker, above levels of $33m or $34m reported earlier this year.
Ningbo Ocean said in October it was looking to order two firm ships and two options.
The aim was to boost the company’s international reach and capacity.
VesselsValue lists the Ningbo Ocean fleet as worth close to $700m.
There are 28 operational vessels, including three supramax bulkers and a small general cargo ship.
Two of the supramaxes were built at the same yard in 2023, with the other dating from 2012 in South Korea.
Feedermaxes on order
The rest of the fleet comprises boxships of feeder to post-panamax size.
There are also six feedermaxes on order at two other Chinese yards.
Haitong Offshore has been on a successful order run so far this year.
Earlier on Wednesday, TradeWinds reported that Norwegian shipowner J Ludwig Mowinckels Rederi had inked a new 63,500-dwt ultramax there for delivery next year.
In the summer, China’s Fujian Guohang Ocean Shipping returned to the shipbuilder for two 63,500-dwt ultramaxes to be delivered in 2026.
Brokers suggested these vessels, designed by the Shanghai Merchant Ship Design & Research Institute, were costing between $32m and $34m.
Fujian Guohang also has five 74,000-dwt panamaxes on order at Haitong Offshore.
