New Yangtze Navigation, a shipping subsidiary of Jiangsu New Changjiang Group, has placed an order with Zhoushan Changhong International for two 212,000 DWT Newcastle bulk carriers. Market sources revealed that the construction cost per vessel is approximately $80 million, with a total cost of about $160 million for the two vessels. They are expected to be delivered in 2029 and will be equipped with desulfurization systems.
As both New Yangtze Navigation and Zhoushan Changhong International are subsidiaries of Jiangsu New Changjiang Group, this order represents an internal fleet expansion and shipbuilding project for the group.
Incorporated in Singapore in 2010 by Jiangsu New Changjiang Group, New Yangtze Navigation is a large-scale international shipowner operating a diversified fleet that includes oil tankers, bulk carriers, and container ships. Its core business encompasses the trading of second-hand vessels, maritime financial investment, and ship management, with a primary focus on transporting bulk commodities such as coal, iron ore, grain, and steel products. Additionally, the company is deeply engaged in supply chain logistics, placing significant emphasis on developing third-party services such as vessel chartering-in and ship management.
For Zhoushan Changhong International, the order placed by New Yangtze Navigation for two 212,000 DWT Newcastlemax bulk carriers marks the leading private shipyard’s return to the large bulk carrier construction sector.
Reports indicate that the last batch of bulk carriers undertaken by Zhoushan Changhong International began construction in 2018 and was delivered in 2019; the shipyard remained absent from this market segment for the subsequent years until the order for the two Newcastlemax vessels from New Yangtze Navigation was announced.
In recent years, Zhoushan Changhong International has secured new shipbuilding orders primarily from the container ship and oil tanker markets, establishing partnerships with global shipowners such as Mediterranean Shipping Company (MSC) and the Greek TMS Group.
TMS Group is also a major client of Zhoushan Changhong International in the container ship sector; the two parties have signed contracts for 18 plus 2 dual-fuel (LNG) container ships with a capacity of 11,400 TEU, and construction of the lead vessel began on March 30.
Official website information shows that Zhoushan Changhong International is located in the Zhoushan Archipelago New Area of Zhejiang Province. It was established in 2009 with investment from the Jiangsu New Changjiang Group and operates in Dinghai District and Putuo District of Zhoushan City, as well as Daishan County. The total investment in these three major shipbuilding and repair industrial bases exceeds 10 billion yuan; they cover an area of more than 6.5 million square meters, with a total shoreline length of over 20,000 meters. The companies have an annual shipbuilding capacity exceeding 5 million deadweight tons and an annual ship repair capacity of more than 500 vessels.
Zhoushan Changhong International’s three major bases collectively feature 12 dry docks with capacities of 300,000 tons, 100,000 tons, and 80,000 tons; two 150,000-ton horizontal slipways; and 12 outfitting berths. The facilities also include two 900-ton gantry cranes, one 800-ton gantry crane, one 600-ton gantry crane, two 500-ton gantry cranes, as well as large-scale production workshops and steel fabrication yards.