W Marine Orders First Ultramax Newbuilds at Jiangsu Dajin Heavy Industry
Key Takeaways
- •W Marine has ordered three 64,500 dwt ultramax bulk carriers at Jiangsu Dajin Heavy Industry, representing its first ultramax newbuilding contract.
- •The three vessels are scheduled for delivery in May, August, and November 2028, reflecting extended construction slots at major Chinese shipyards.
- •W Marine's active newbuilding pipeline now totals five vessels, including two 1,800 TEU feeder containerships on order at Huanghai Shipbuilding.
- •The company returned to newbuilding contracting after nearly two decades of absence, having recently taken delivery of two kamsarmax vessels from Chengxi Shipyard.
- •W Marine had previously participated in the ultramax segment only through secondhand vessel acquisitions rather than newbuild orders.
Greek shipowner W Marine has placed its first ultramax newbuilding order, commissioning three 64,500 dwt bulk carriers at a Chinese shipyard, according to industry reports.
The company, controlled by Yiannis Sarantitis, has been linked to hull numbers DJHC6601, DJHC6602, and DJHC6603 at Jiangsu Dajin Heavy Industry. The vessels are scheduled for delivery in May, August, and November 2028 — a timeline that reflects increasingly extended slots at major Chinese shipyards as global orderbooks have filled across multiple vessel segments. No contract price has been disclosed.
The order was initially revealed in May through an exchange filing by Dajin's listed parent company. The filing identified Anhui Guomao Haichang Trading as the contractual export counterparty but did not name the ultimate beneficial owner at the time.
Ultramax bulk carriers are a popular mid-size vessel class in the dry bulk market, typically ranging between 60,000 and 65,000 dwt, commonly deployed on regional and interregional trade routes carrying commodities such as grains, coal, and minor bulks. The segment is one of the most actively traded in secondhand and newbuilding markets owing to the vessels' operational flexibility across a wide range of ports and cargoes.
The three-ship order brings W Marine's active newbuilding pipeline to five vessels. The Athens-based owner also has two 1,800 teu feeder containerships on order at Huanghai Shipbuilding, slated for delivery in 2028. The diversification across both dry bulk and container segments marks a notable fleet-renewal phase for a company that until recently had been absent from newbuilding contracting for nearly two decades.
W Marine recently took delivery of the 82,000 dwt kamsarmaxes W-Malvina and W-Mary from Chengxi Shipyard. As Splash reported in 2024, the pair — priced at a reported $72 million — marked the company's return to the newbuilding market after an extended absence.
The Jiangsu Dajin contract represents W Marine's first ultramax newbuildings. The company has previously participated in the ultramax segment through secondhand vessel acquisitions. Greek owners collectively rank among the largest national groups in global shipping, and the order adds to a continuing flow of contracts placed by Greek-controlled companies at Chinese yards in recent years.
Source: Splash247