Foremost linked to 4 methanol-ready kamsarmax newbuilds at CSSC Chengxi Shipyard

US-based Foremost Group has returned to China’s shipbuilding market after nearly five years. The bulk carrier owner, led by Angela Chao, has placed an order with CSSC Chengxi Shipyard through a shipbroker for four 82,000 dwt methanol dual-fuel bulk carriers, which are expected to be delivered between 2027 and 2028, at an undisclosed price.

It is understood that the last time Formosa Group placed an order with CSSC Chengxi Shipyard can be traced back to February 2019, when the two parties signed a contract for the construction of two 85,000 dwt Kamsarmax bulk carriers, which have been delivered in 2021.

Besides, the shipowner has also ordered two 185,000 dwt bulk carriers from Japan’s Namura Shipbuilding in 2022 at an undisclosed price. It is the first time that Formosa Group has placed an order with Namura Shipbuilding. The new vessels have signed a seven-year charter agreement with Nippon Yusen Kaisha(NYK) and will be delivered in 2024.

Up until now, Formosa Group has placed orders for the construction of about 30 bulk carriers at Chinese and Japanese shipyards.

Earlier this month, CSSC Chengxi Shipyard also signed a contract with Hong Kong shipowner Comerge Shipping for two 85,000 dwt methanol dual-fuel bulk carriers. The construction cost is about $42 million per ship, which is about $6 million higher than that of a newbuilding bulk carrier of the same specification with traditional fuel. This is the first time for this shipyard to build dual-fuel vessels.

Yangzijiang Shipbuilding

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