As global shipowners’ enthusiasm for shipbuilding continues to heat up, an increasing number of wind power and energy companies possessing shipyard resources are diversifying into the shipbuilding sector.
Market reports indicate that Xiamen-based bulk carrier owner Amoysailing Maritime (Amoysailing Group) has placed an order with Watts Energy & Engineering Co., Ltd. for four 82,000 DWT Kamsarmax bulk carriers, with delivery scheduled for 2028. If confirmed, this would mark Watts Energy’s first contract to build bulk carriers, making it the latest company—following Dajin Heavy Industry and Titan Wind Energy (Suzhou)—to venture into the shipbuilding industry.
While the transaction price for these new vessels has not been disclosed, sources reveal that Chinese shipyards typically quote between $35 million and $38 million for a standard 82,000 DWT Kamsarmax bulk carrier, whereas vessels with higher specifications cost approximately $42 million.
Watts Energy previously entered the vessel construction business by building a series of 35-meter wind power O&M (operations and maintenance) vessels; the first unit, Watts Fengxing 01, was delivered in May 2025. This order for four bulk carriers signals Watts Energy’s further expansion into the market for conventional commercial vessel construction.
According to official information, Watts Energy was established in 2008 with investment from the Shanghai Huazi Benteng Holding Group Co.,Ltd. Headquartered in the Shipbuilding Industrial Park of Qidong City, Jiangsu Province, the company occupies an area of approximately 1,000 mu (approx. 667,000 square meters) with a total investment of around RMB 2 billion; it also operates a gas engineering technology center in Shanghai (Cryolobe Gas Technology Co., Ltd.).
Since its inception, Watts Energy has focused on providing marine energy equipment, offshore structural components, and ship repair and conversion services. Its product portfolio includes ultra-large marine liquid cargo tanks and systems (for LNG, LEG, LPG, and LCO2), LNG fuel gas supply systems, LNG regasification modules, large-scale offshore wind power foundation equipment, petrochemical pressure vessels, and port machinery.
Regarding business development, Watts Energy leverages its advantages in dry dock and wharf facilities as well as its strategic location to actively expand its ship repair and conversion operations. The company possesses capabilities for dry-docking repairs, scrubber retrofitting, ballast water treatment system retrofitting, and mooring system modifications. It is also equipped to undertake repair and conversion projects for high-end vessels, such as liquefied gas carriers, with an annual capacity of over one hundred ships. Data indicates that the Watts Energy Qidong base covers an area of approximately 660,000 square meters and features a 270-meter by 50-meter dry dock and a 1,000-ton gantry crane.
The new facility established through the partnership between Watts Energy and COSCO SHIPPING Heavy Industry (Shanghai) was inaugurated and became operational in August 2024. As a key outcome of this collaboration, dozens of large vessels—including bulk carriers, general cargo ships, and oil tankers—contracted by COSCO SHIPPING Heavy Industry (Shanghai) have undergone repairs at the Watts Energy site and successfully returned to service since the beginning of 2024.
Furthermore, Watts Energy has expanded its business scope into large-scale shipbuilding and repair infrastructure; construction recently commenced on a 20,000-ton lifting capacity floating dock, a project undertaken for Saudi Arabia’s SOFON INDUSTRIES.
With the public announcement of Amoysailing Group’s order for four bulk carriers, Watts Energy has become the latest company—following Dajin Heavy Industry and Titan Wind Energy (Suzhou)—to diversify into shipbuilding this year. Since the start of the year, Dajin Heavy Industry has secured orders from European shipowners for multiple new vessels, including Newcastlemax bulk carriers and multi-purpose heavy-lift ships; meanwhile, Titan Wind Energy (Suzhou) won orders for a total of 10 oil tankers (including options) in July, marking its official entry into the commercial shipping market.
According to its official website, Amoysailing Group was established in Xiamen in 2002. Dedicated to the development of international dry bulk shipping, the company has long operated a large fleet primarily composed of Panamax and Handysize vessels.
Amoysailing Group first entered the shipbuilding market in May 2009, marking a significant strategic shift from a non-vessel-owning operator to a shipowner. In recent years, the company has expanded its fleet through a combination of acquiring second-hand vessels and ordering newbuilds.
In addition to the four Kamsarmax bulk carriers ordered from Watts Energy, Amoysailing Group also placed an order with Jiangsu Haitong Offshore Engineering Equipment Co., Ltd. (JSHT) for two 63,500 DWT bulk carriers, with delivery scheduled for 2028. JSHT had previously secured an order from Amoysailing Group in 2024 for four 63,500 DWT bulk carriers, which are due for delivery in 2026.