Taiwan’s Shih Wei Navigation has ended a decade-long newbuilding drought by ordering two bulkers in Japan.

A spokesperson confirmed the $78m order at Oshima Shipbuilding, saying the 64,000-dwt ultramaxes are part of a fleet expansion programme.

Shih Wei’s last order was in 2014, when it commissioned Saiki Heavy Industries to construct one 60,300-dwt bulker — the Amis Benefit (built 2018).

It sold the vessel to Japanese owner Kasuga Shipping several years ago and it is trading as Koushun.

The latest order will double Shih Wei’s ultramax fleet to four when it takes delivery of the new pair in 2026. It already has two on the water — the Onomichi-built, 60,200-dwt Endurance SW and Genius SW (both built 2015).

The Taipei-listed company did not disclose why it had stayed away from the shipbuilding market for 10 years.

But it said these latest two conventionally powered newbuildings will be built to the latest Energy Efficiency Design Index Phase 3 requirements and meet the International Maritime Organization’s latest NOx-Tier III rules.

VesselsValue lists Shih Wei with a fleet of 30 vessels, including three panamax bulkers, two ultramaxes, two supramaxes and the rest handysize or smaller.

Although the company has been inactive in the shipbuilding sector, it has been busy in the sale-and-purchase market as a seller.

VesselsValue shows that Shih Wei sold five bulk carriers last year — two 11,900-dwt multipurpose ships and three handysizes.

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