South Korean shipowner H-Line Shipping has returned to the newbuild market for bulk carriers after a five-year hiatus, placing an order for two vessels with a private Chinese shipbuilder.
Market reports indicate that H-Line has ordered two 210,000 DWT LNG dual-fuel Newcastlemax bulk carriers from New Times Shipbuilding. The vessels are priced at approximately $94 million each—bringing the total contract value to around $188 million—and are scheduled for delivery in 2030.
These new vessels have been secured under long-term charters with the South Korean steelmaker POSCO. While specific charter details have not been disclosed, past transactions suggest that POSCO typically enters into long-term charter agreements spanning 15 to 20 years for such vessels.
This new shipbuilding project marks a continuation of the partnership between New Times Shipbuilding and H-Line; the shipowner previously placed a follow-up order with the yard in 2019 for two 208,000 DWT Newcastlemax bulk carriers. That batch was delivered in 2021, with the cost per vessel reportedly around $54 million.
Meanwhile, these two latest orders represent H-Line’s return to the bulk carrier market after a five-year hiatus; the company had previously ordered three LNG dual-fuel Newcastlemax bulk carriers from CSSC Beihai Shipbuilding. Those vessels were delivered on October 26, 2023, December 18, 2023, and January 22, 2024, respectively.
So far this year, New Times Shipbuilding has publicly announced orders for approximately 30 new vessels (including options), spanning the three major commercial shipping sectors: container ships, bulk carriers, and oil tankers. The shipyard’s largest single order of the year came from Maersk, comprising eight firm orders plus six options for 18,600 TEU LNG dual-fuel container ships, with deliveries scheduled for 2029–2030.