Swiss dry bulk owner Suisse-Atlantique has expanded its newbuilding programme in China with an order for two 40,500 dwt open-hatch ships, taking its orderbook at Jiangmen Nanyang Shipyard to seven vessels.

The André family-controlled group confirmed the latest pair this week, adding them to five ultramaxes already contracted at the Guangdong yard. All seven ships are scheduled for delivery between the third quarter of 2028 and the first quarter of 2029, placing the tonnage well into the second half of the decade, when a substantial share of the existing bulk carrier fleet will be approaching the typical 20-25 year retirement age.

No price, propulsion details or individual delivery dates have been disclosed for the open-hatch pair. The ships will be box-shaped units, giving Suisse-Atlantique greater flexibility for breakbulk, project and other cargoes alongside its traditional dry bulk business. Open-hatch box-shaped designs are typically favoured by cargo interests shipping unitised freight such as forest products, paper and steel, and their addition gives the company exposure to a niche segment distinct from conventional bulk trades.

The latest announcement also firms up details of the company's earlier Chinese order. When Splash first reported the programme in March, market sources put the five vessels at 63,500 dwt and around $33.5m each. Suisse-Atlantique now describes the ships as 64,400 dwt ultramaxes.

The five-ship deal marked Suisse-Atlantique's first newbuilding order in China, following a fleet historically built at yards in Japan, Vietnam and the Philippines. The shift reflects the broader position of Chinese yards, which dominate global orderbooks in the small and mid-sized dry bulk segments, where slot availability and pricing have drawn owners away from other building nations. Shipbuilding databases have since identified Jiangmen Nanyang as one of the busiest Chinese yards in the handy and ultramax segments.

Not all seven ships are necessarily being built solely for Suisse-Atlantique's own balance sheet. The company said the programme includes vessels ordered both for its own account and together with outside investors, an arrangement that spreads capital exposure across the programme.

Suisse-Atlantique will supervise construction of all seven vessels and take on full technical management after delivery, extending the group's third-party shipmanagement business alongside its traditional ownership and freight operations.

The company currently operates across the handysize, ultramax and post-panamax segments. Its public fleet list includes tonnage built between 2011 and 2022, while its freight operation manages a larger mix of owned and chartered vessels.

Source: Splash247