Chinese owner Zhejiang Shipping Group has signed up for two ultramax bulk carriers at New Dayang Shipbuilding, according to a report by Splash247. The contract, valued at RMB519.6m ($77m) or roughly $38.5m per vessel, was awarded following a public tender by the owner’s parent, Zhejiang Provincial Transportation Investment Group. The two 64,000 dwt ships will be conventionally fuelled and built for international trading, with delivery scheduled by the end of March 2030 and June 2030, respectively.
Deal Details and Vessel Specifications
The order includes two 64,000 dwt ultramax bulk carriers, each priced at approximately $38.5m. The vessels are conventionally fuelled (not LNG or other alternative fuel), in line with current market standards for this segment. Below is a summary of the key contract terms:
| Parameter | Detail |
|---|---|
| Buyer | Zhejiang Shipping Group (through parent Zhejiang Provincial Transportation Investment Group) |
| Yard | New Dayang Shipbuilding (part of Sumec Marine) |
| Vessel type | Ultramax bulk carrier |
| Deadweight tonnage | 64,000 dwt each |
| Fuel type | Conventional (not specified as alternative) |
| Total contract value | RMB519.6m ($77m) |
| Price per vessel | ~$38.5m |
| Delivery dates | End of March 2030 and End of June 2030 |
| Trading area | International |
New Dayang’s Order Book and Track Record
New Dayang, the Yangzhou-based subsidiary of Sumec Marine, has a strong track record with its Crown 63 series, having delivered over 160 vessels from this series. According to Splash247, the yard’s production schedule now extends into 2030. In 2026 alone, New Dayang has secured more than 10 bulker orders, covering vessels ranging from 63,500 dwt ultramaxes to 82,000 dwt kamsarmaxes. This order from Zhejiang Shipping adds two more ultramaxes to the yard’s growing backlog.
The yard’s ability to book orders through the end of the decade signals sustained demand for bulk carrier newbuildings, particularly in the ultramax and kamsarmax segments, which are popular for grain, coal, and minor bulk trades.
Broader Bulk Carrier Market
Splash247 also noted that Jinhui Shipping recently returned to New Dayang for another pair of 64,100 dwt ultramaxes last month. This further underscores the yard’s competitiveness in the ultramax segment and the ongoing replacement and fleet expansion activity among Chinese shipowners.
While this deal specifically concerns Chinese-owned, Chinese-built tonnage, it reflects broader trends in the bulk shipping market: newbuilding prices remain elevated (with ultramaxes in the $38m range), delivery lead times are stretching into the late 2020s, and owners are placing orders to secure capacity for the next decade. For logistics operators, the gradual addition of these vessels from 2030 onward will affect available bulk carrier supply on major dry bulk routes, particularly the Pacific and Atlantic basins, though near-term market impacts are minimal given the distant delivery dates.
Implications for Logistics Professionals
For freight forwarders and logistics managers in the dry bulk space, this order is a long-term supply signal. The two vessels will add 128,000 dwt of ultramax capacity to the global fleet by mid-2030, which will incrementally increase carrying capacity on trades such as grain from the US Gulf to China and coal from Indonesia to India. The conventional fuel specification means these ships will face potential regulatory pressure from carbon pricing or emissions rules in the late 2030s, but for the next decade they provide cost-efficient tonnage. Shippers relying on ultramax vessels for project cargo or bulk commodities should note that lead times for newbuilds remain extended, making early charter commitments advisable for peak seasons.
Watch list: The industry should monitor New Dayang’s order intake for further ultramax and kamsarmax contracts, as well as any shifts in fuel-type preferences (LNG, methanol, ammonia) that could alter the residual value of conventionally fuelled tonnage ordered now.
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