Canadian dry bulk shipowner and operator Fednav has returned to Japan to place orders for a batch of brand-new handysize bulk carriers, marking the company’s latest move in the newbuilding market.
Fednav has reportedly signed a letter of intent with Oshima Shipbuilding to build four 35,000 DWT Great Lakes bulk carriers, with delivery expected in mid-2029. These new vessels aim to continue the company’s focus on building a modern, fuel-efficient fleet tailored for trade along the Great Lakes and the St. Lawrence Sea Route.
The announcement of this letter of intent not only expands Fednav’s existing order book but also solidifies the long-standing partnership between the shipowner and Oshima Shipbuilding. Fednav previously entered into an agreement with Sumitomo Shipping and Oshima Shipbuilding to order 10 ocean-going Great Lakes bulk carriers with a deadweight tonnage of 34,800 tons.
Currently, Fednav operates approximately 120 bulk carriers, with over 60 vessels owned outright. With the finalization of its latest letter of intent, Fednav’s future order book has increased to 11 vessels, including long-term chartered ships, covering both Handysize and Ultramax bulk carrier types.