Bulk carrier operator Norvic Shipping has embarked on a newbuild of a 42,000 dwt bulk carrier to expand its fleet.
The new vessel, to be built by Japan’s Oshima Shipbuilding and named the Norvic Athens, is scheduled for delivery in the second half of 2027.Norvic Shipping has entered into a long term charter contract for the new vessel with a “reputable Japanese shipowner”.
Norvic Shipping stated that the ordering of this new vessel and the signing of the long-term charter marks another step forward in the company’s commitment to high quality, fuel efficiency, high tonnage and long-term strategic growth.
It is reported that Norvic Shipping was established in Toronto, Canada in 2006. It was originally a tanker operator and began to get involved in dry bulk shipping in 2012. In 2023, the company spent US$37 million to purchase the LR2 tanker “Norvic Monica” built in 2008 and sold it for about US$42 million.
The order is the second shipbuilding contract announced by Oshima Shipbuilding this month and the third new vessel order for the shipyard this year. In mid-May, Jhonlin Marine Lines (JML), a subsidiary of the Jhonlin Group, announced that it had ordered eight 64,000 dwt Ultramax bulk carriers from Oshima Shipbuilding at a cost of US$41 million, with a total value of approximately US$328 million. The new vessels are expected to be delivered in 2028 and 2029.
Another order comes from China’s Taiwanese dry bulk shipping operator U-Ming Marine, for which Oshima Shipbuilding will build two Ultramaxes bulk carriers, which is another collaborative shipbuilding between the two parties after 2019 and is scheduled to be delivered in 2028.