On June 1, Dajin Heavy Industry Co., Ltd. issued an announcement stating that the company and its subsidiary Tangshan Dajin Ocean Engineering Equipment Manufacturing Co., Ltd. have recently signed two bulk carrier construction contracts respectively with a Greek shipowner and a Norwegian shipowner.
Under the contract, Dajin Heavy Industry will design, build, and deliver a total of four 211,000-deadweight-ton bulk carriers to the two aforementioned shipowners at a total cost of approximately $300 million (equivalent to approximately 2.05 billion RMB). Based on this calculation, the cost per vessel is approximately $75 million, with delivery expected in batches by 2029. The new vessels will have a total length of approximately 299.95 meters, a beam of approximately 50 meters, and a draft of approximately 25 meters.
Regarding information on the shipowners, Dajin Heavy Industry stated only that the Norwegian shipowner focuses on operating its own fleet, investing in newbuilds, buying and selling secondhand vessels, and engaging in long-term charters and offshore engineering projects; the Greek shipowner is a specialized tanker owner and ship management company primarily engaged in the transportation of crude oil and refined products, as well as ship operations and asset management.
According to public records, Tangshan Dajin Ocean Engineering Equipment Manufacturing—the company involved in the aforementioned shipbuilding contract—was incorporated on April 21, 2026, with a registered capital of 100 million yuan. Its registered address is within the Dajin Heavy Industry Caofeidian Deep-Sea Base, and its legal representative is Sun Xiaole. The company is wholly owned by Tianjin Jinyin Heavy Industry Co., Ltd., a wholly-owned subsidiary of Dajin Heavy Industry, and constitutes a core offshore engineering division within the Dajin Heavy Industry group.
Tangshan Dajin Ocean Engineering Equipment Manufacturing’s business scope includes ship sales; research, development, manufacturing, and sales of offshore engineering equipment; offshore engineering design and module design and manufacturing services; manufacturing of offshore engineering platform equipment; and related development and manufacturing operations for offshore wind power and deep-sea oil drilling equipment.
As a leading exporter of offshore wind power infrastructure equipment, Dajin Heavy Industry has now expanded its business scope to include commercial shipbuilding. This year, the company has secured orders for 16 new vessels across two types, including 14 210,000 DWT bulk carriers and two multi-purpose heavy-lift vessels, with a total contract value of approximately $1.2 billion. Delivery is scheduled through 2029.
In addition to the latest orders, contracts for the remaining 10 bulk carriers have been signed with Danaos (Greece), Seatankers Management (Norway), and Cape Shipping (Greece), with 4, 4, and 2 vessels ordered respectively.
The order for two multi-purpose heavy-lift vessels, placed by Dutch shipowner JUMBO Marine, marks Dajin Heavy Industry’s first contract for offshore installation vessels in the European market. It represents a significant step in the company’s efforts to advance its integrated strategy of “equipment manufacturing + shipbuilding + offshore engineering” and to solidify its foothold in the European market.
Regarding its shipbuilding operations, Dajin Heavy Industry stated that the core focus of this segment is not merely to secure shipbuilding orders, but rather to leverage its in-house shipbuilding capabilities to support the independent and controllable operation of the entire global wind power industry chain, thereby delivering multiple benefits including strategic supply chain security, integrated customer services, and steady growth in the shipbuilding business.
In addition to expanding its merchant shipping business, Dajin Heavy Industry is currently preparing to apply for the issuance of overseas-listed shares (H-shares) and to list on the Main Board of the Hong Kong Stock Exchange.
According to an announcement released by Dajin Heavy Industry on May 28, the H-shares issued in this offering are expected to be listed and begin trading on the Hong Kong Stock Exchange on June 5, 2026. After deducting relevant issuance expenses, the proceeds will be used entirely for the business development of Dajin Heavy Industry, including but not limited to: research and development of cutting-edge technologies and products in the global offshore engineering sector, expansion of production capacity, expansion of global markets and business operations, strategic investments and acquisitions, new energy project development, replenishment of working capital, and other general corporate purposes.