Shipping company Seatankers Management, linked to shipping magnate John Fredriksen, has expanded its Newcastlemax bulker construction program in China. The company has exercised options for four additional 210,000-dwt bulk carriers at Panjin Dajin Offshore Engineering, a subsidiary of Dajin Heavy Industry
With the latest order, Seatankers’ orderbook at the yard has grown to eight Newcastlemax vessels. According to shipbrokers, each vessel is valued at approximately $73.5 million, bringing the total investment in the program close to $600 million. Deliveries are scheduled between 2028 and 2029.
The contracts further strengthen Dajin Heavy Industry’s position in the large bulk carrier construction segment. The Chinese group has traditionally focused on offshore wind power structures and specialized marine equipment but is now actively expanding its presence in the dry bulk shipbuilding market.
Industry analysts attribute the growing demand for Newcastlemax vessels to expectations of rising iron ore exports from the Simandou project in Guinea. The project is widely regarded as a potential catalyst for increased demand for large-capacity bulk carriers and long-haul commodity transportation in the coming years.
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