Bangladesh’s Akij Resource has placed an order for four 63,800 dwt bulk carriers at China’s Nantong Xiangyu Shipbuilding & Offshore Engineering, according to Splash247. The Dhaka-based group’s move into the newbuilding market expands its existing fleet of 10 ocean-going bulk carriers and 50 lighter vessels, with implications for dry bulk shipping capacity on routes serving Bangladesh.
Fleet Expansion Background
Akij Shipping Line, part of the Akij Resource group, was established in 2010 and has grown into one of Bangladesh’s active private dry bulk operators, Splash247 reported. The company originally built its shipping arm around cargo flows for Akij Cement before expanding into wider dry bulk trades including clinker, limestone, slag, coal, fertiliser, grain, gypsum and aggregates. Its current fleet consists of single-deck bulkers ranging from 45,000 dwt to 76,000 dwt.
| Fleet Component | Quantity | Dwt Range |
|---|---|---|
| Existing ocean-going bulk carriers | 10 | 45,000 – 76,000 |
| Lighter vessels | 50 | Not specified |
| New order (ultramax) | 4 | 63,800 each |
The Newbuilding Order
Splash247 reported that no price or delivery dates have been disclosed for the four new vessels. The deal adds another international name to Nantong Xiangyu’s growing ultramax orderbook. The Chinese yard said the contract marked its second newbuilding deal announced in June, following an order from Fujian Shipping Group for four 62,000 dwt multipurpose vessels. Nantong Xiangyu has had a busy year across dry bulk and multipurpose tonnage, also linked this year to orders from Shanghai Time Shipping and Mercuria, while Splash247 earlier reported that Seacon Shipping had taken over six 63,800 dwt ultramax resale contracts at the same builder.
Impact on Dry Bulk Trade Lanes
The addition of four ultramax bulkers will likely increase Akij’s capacity on import routes for dry bulk commodities into Bangladesh. According to the company, its current fleet supports cargoes such as clinker, limestone, slag, coal, fertiliser, grain, gypsum and aggregates. Bangladesh relies heavily on seaborne imports for these commodities, and additional tonnage could improve supply reliability for shippers. However, with no delivery timeline disclosed, the timing of any capacity increase remains uncertain.
Implications for Shippers and Operators
For freight forwarders and logistics managers managing dry bulk shipments to Bangladesh, the expansion of Akij’s fleet could introduce additional competition on certain routes, potentially influencing freight rate negotiations. Operators should monitor Akij’s fleet development as the newbuilds may absorb some spot market demand, particularly for ultramax-sized shipments. The order also signals continued confidence in the dry bulk market from Bangladeshi operators, according to Splash247.
Watch List
Key factors to watch include:
- Delivery schedules: Nantong Xiangyu’s ability to deliver the four newbuilds on time, given its busy orderbook.
- Yard capacity: Other orders at the yard, including the Fujian Shipping multipurpose vessels and Seacon resales, may compete for building slots.
- Akij’s cargo mix: Any shift in the company’s focus on particular commodities could affect freight dynamics on specific routes.
The order adds to a trend of increasing newbuilding demand in the dry bulk sector, particularly for ultramax tonnage. As Akij expands its fleet, the impact on Bangladesh’s dry bulk imports will depend on when these vessels enter service and how they are deployed.
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