Active sale-and-purchase player Winning International Group has turned to the newbuilding market for a series of big bulkers.
The Singapore-based company has ordered six 325,000-dwt VLOCs at China’s Hengli Heavy Industry. It hopes to take delivery in 2026 and 2027.
A signing ceremony in Singapore on Wednesday was attended by former politician George Yeo and Lee Yi Shyan, chairman of China Business.
The deal brings the number of VLOCs that Winning has on order to eight.
It ordered two scrubber-fitted vessels last September at CSSC-controlled Qingdao Beihai Shipbuilding Heavy Industry for delivery in the first half of 2026.
Winning’s new VLOCs will ship bauxite and iron ore from Guinea to China. The West African nation is a world leader in bauxite production and Winning has stakes in the mines.
The VLOCs will be conventionally powered but are methanol-ready.
They are custom-made for Winning and designed by Shanghai Merchant Ship Design & Research Institute.
The 325,000-dwt ore carrier dubbed the “WinningMax” is 329.99 metres long by 60 metres wide and has a structural draught of 22 metres.
The ships will be built to the International Maritime Organization’s Energy Efficiency Design Index Phase 3 standards.
Winning said the energy consumption of the WinningMax is almost half that of the standard capesize.
It did not disclose the price, but some shipbuilding players suggested the newbuildings will cost between $115m and $116m each.
A privately owned company, Winning was established in 2002 by Sun Xiushun, who was formerly with Cosco Qingdao.
The company began as a trader and ship operator in Qingdao and established offices in Hong Kong and Singapore. Its core activity is transporting bauxite to China.
Winning is said to be one of the most active Asian secondhand ship buyers.
According to VesselsValue, it has bought 10 capesizes so far this year and five in 2023.
Winning said it operates nearly 100 vessels, of which 51 are owned capesize bulkers.
