Kumiai Navigation, the Singapore subsidiary of Japanese independent shipowner Kumiai Senpaku, is accelerating its fleet renewal.
Kumiai Navigation has signed a contract withNantong COSCO KHI Ship Engineering Co, Ltd. (NACKS) for a 64,000 dwt Ultramax bulk carrier, expected to be delivered in the second quarter of 2028, according to Trade Winds.
The order has been confirmed by Kumiai Navigation executives and said it will be used to replace an older vessel in its fleet.
This is Kumiai Navigation’s first new vessel order in four years. The cost has not yet been announced, but the shipbroker estimates it to be $35 million. The company’s last Ultramax bulk carrier order dates back to 2021, and was built and delivered by Oshima Shipbuilding in 2023. It was named “Lowlands Freedom” and was said to cost about $27 million. Based on the shipbroker’s valuation, the cost of the same ship type has increased by about $8 million after four years.
It is worth noting that the above bulk carrier order is not the first cooperation between Kumiai Navigation and NACKS, as the two parties had previously cooperated in the construction of one 82,000 dwt Kamsarmax bulk carrier.
According to the official website, Kumiai Navigation was established in 1995 as a wholly owned subsidiary of Kumiai Senpaku, Japan’s leading independent shipowner. Since its establishment, Kumiai Navigation has operated independently of its Japanese parent company and has aggressively pursued fleet expansion with a current fleet of 19 vessels and new vessels on order.
Fleet data shows that Kumiai Navigation’s fleet includes 8 very large gas carriers (VLGCs) built between 2012 and 2025; 2 liquefied petroleum gas (LPG) carriers built in 2019 and 2020 respectively; 4 Capesize bulk carriers built between 2012 and 2020; 1 Kamsarmax bulk carrier built in 2021; 4 Supramax/Ultramax bulk carriers built between 2013 and 2023. There are 4 new vessels, including 3 86,700 cubic meter VLGCs planned to be delivered by Kawasaki Heavy Industries in 2025 and 2026, and 1 64,000 DWT Ultramax bulk carrier planned to be delivered by NACKS in the second quarter of 2028.