Atlantic Bulk Carriers Management, a Greek dry bulk shipowner, is accelerating its fleet renewal program by partnering once again with Chinese shipbuilder to place a bulk order for new vessels.
Shipbroking news: Atlantic Bulk Carriers Management has placed an order with Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (Nantong Xiangyu SOE) for four 63,500 DWT Ultramax bulk carriers. Each vessel is valued at approximately $33.8 million, with the total order worth around $135.2 million. Delivery is scheduled for 2028.
This order marks the continuation of the partnership between Nantong Xiangyu SOE and Atlantic Bulk Carriers Management. This order marks the continuation of the partnership between Nantong Xiangyu SOE and Atlantic Bulk Carriers Management. The two parties previously signed a contract in 2023 for three 63,500 DWT Ultramax bulk carriers, named “Desert Lion,” “Desert Puma,” and “Desert Leopard,” which were delivered to the shipowner earlier this year.
Notably, the shipbuilding contract signed with Nantong Xiangyu SOE in 2023 marked Atlantic Bulk Carriers Management’s first order placed with a Chinese shipbuilder. The shipowner had previously favored ordering newbuildings from Japanese and South Korean shipbuilders.
Atlantic Bulk Carriers Management currently operates a fleet of approximately 20 modern Supramax and Ultramax bulk carriers. This newbuilding initiative underscores the company’s ongoing commitment to investing in a younger, more energy-efficient fleet amid sustained strong demand in the shipping market.
This year, Nantong Xiangyu SOE has demonstrated notable activity in the bulk carrier market. Not only did it secure its first order for a 63,800 DWT bulk carrier from South Korean shipowner SAMMOK SHIPPING, but it also formally entered the Newcastlemax bulk carrier construction sector through a rare order from Japanese shipowner Doun Kisen.
Records indicate that Nantong Xiangyu SOE was established in December 2016 and commenced full-scale production on May 11, 2017. The company currently specializes in manufacturing environmentally friendly and energy-efficient bulk carriers, small-to-medium-sized stainless steel chemical tankers, and other high-value-added vessels. It holds a prominent market share and is expanding its influence among international shipowners.
Nantong Xiangyu SOE currently operates three major shipbuilding bases: its Nantong headquarters, the Rugao base, and the Qidong base (which commenced operations in early August).
The newly operational Qidong base, formerly the site of Jiangsu Hongqiang Shipbuilding Heavy Industry Co., Ltd. (Jiangsu Hongqiang Heavy Industry), holds nearly 20 vessels on hand with delivery schedules extending through 2028. The facility primarily constructs energy-efficient and environmentally friendly bulk carriers, offshore engineering vessels, and specialized vessels.