Chinese shipbuilder Yangzhou Guoyu Shipbuilding has secured its first major bulk carrier order since resuming operations. The new vessels will be built at the Zhoushan facility, marking the successful implementation of the company’s strategy to take over two bankrupt shipyards in the region.
According to market reports, Turkish shipowner Aruna Shipping has signed a contract with Yangzhou Guoyu Shipbuilding for the construction of six 64,500 DWT Ultramax bulk carriers, with an option for four additional vessels. With an estimated cost of $35 million per vessel, the total value of the order—including the optional vessels—is approximately $350 million; deliveries are expected to commence in the second quarter of 2028.
It is worth noting that the order was signed in April 2026 but was only recently made public.
This order holds significant importance for both Yangzhou Guoyu Shipbuilding and Aruna Shipping. For Aruna Shipping, it marks the company’s first newbuild order in 15 years—launching a fleet renewal program with the aim of doubling the size of its existing fleet—while for Yangzhou Guoyu Shipbuilding, it represents the first large bulk carrier order secured since resuming production, reflecting a trend toward diversifying the shipyard’s core vessel portfolio.
Commenting on the shipbuilding contract, an executive from Aruna Shipping stated: “These new vessels are a key component of the company’s strategic fleet renewal plan. Incorporating SDARI’s latest-generation Ultramax bulk carrier design, they are modern, eco-friendly vessels that will enable us to provide highly efficient shipping services to our customers in the future.”
Data indicates that Aruna Shipping was established in 2010 by the Bekmezci family—prominent figures in the Turkish textile industry—and has since grown into a key player in Turkey’s bulk carrier market. The company made its initial foray into the shipping sector in 2011 by ordering three Supramax bulk carriers from HD Hyundai Mipo (now integrated into HD Hyundai Heavy Industries), with the vessels delivered and entering service between 2012 and 2013.
For the subsequent 15 years, Aruna Shipping saw no new orders, a hiatus that ended with this latest contract for up to ten new vessels. To date, the three bulk carriers ordered when the owner first entered the shipping industry remain in operation; combined with five Ultramax bulkers acquired in 2022 and 2023, the company currently owns a total of eight bulk carriers, a fleet size set to double upon the delivery of the new vessels.
According to TradeWinds, the ten new vessels recently contracted by Yangzhou Guoyu Shipbuilding will be built at the company’s new yard in Zhoushan. Previously, it was reported that Yangzhou Guoyu Shipbuilding was advancing bankruptcy reorganization plans for Zhejiang Peninsula Shipbuilding and Zhejiang Panzhi Shipbuilding; both shipyards are located in Zhoushan, Zhejiang Province.
According to project filing information from the Dinghai District Development and Reform Bureau, Yangzhou Guoyu Shipbuilding will carry out a consolidated bankruptcy reorganization involving the former Zhejiang Peninsula Shipbuilding and its affiliate, Zhejiang Panzhi Shipbuilding. The project entails the construction and renovation of production facilities as well as equipment upgrades. Key components include upgrading production facilities; constructing or renovating production, outfitting, and block assembly workshops; installing new gantry cranes; and modernizing aging production lines. With a total investment of 1 billion yuan, the project is scheduled to commence in April 2026 and reach completion in December 2027.
Data indicates that Yangzhou Guoyu Shipbuilding is located in Yizheng, Yangzhou City, Jiangsu Province. It boasts a 2.2-kilometer deep-water shoreline and a site area of 1.13 million square meters, equipped with core facilities such as four shipbuilding slipways and a 1,400-meter outfitting pier. The shipyard has an annual production capacity of 2 million deadweight tons and has reserved land for a 300,000-ton dry dock. The shipyard focuses on shipbuilding, ship repair, and high-end equipment manufacturing, with an emphasis on developing LNG-powered vessels and dual-fuel container ships, while also undertaking the construction of bulk carriers, oil tankers, and special-purpose vessels.