Wedoany.com Report-Oct. 28, China’s Huarong Financial Leasing has placed an order for two newcastlemax bulk carriers at Taizhou Kouan Shipbuilding, marking its first newbuilding investment in this vessel segment and a notable contract for the yard. The 210,000 dwt ships are priced at $71 million each, with deliveries expected around 2029.

Huarong Financial Leasing has not disclosed the identity of any potential bareboat charterer, but market brokers suggest the vessels are likely intended for long-term charter to a Chinese or regional commodity trading company. This order represents Huarong Leasing’s first bulk carrier purchase in over ten years. The company currently operates a fleet of around 40 vessels, which includes 11 newcastlemax and capesize units under its leasing portfolio.

Earlier this year, Huarong returned to shipbuilding with contracts for three diesel-electric chemical tankers at Wuhu Shipyard. Prior to that, its last newbuilding project was in 2015, when it partnered with Seapeak (then Teekay LNG) to construct a single VLEC at DSIC Offshore. These moves highlight Huarong’s renewed focus on expanding and modernizing its fleet.

For Taizhou Kouan Shipbuilding, this contract represents a step up in scale. The privately owned yard, based in Jiangsu Province, has recently concentrated on mid-sized vessels, including 3,300 teu containerships, general cargo carriers, and stainless-steel chemical tankers. Securing an order for two large-capacity bulk carriers indicates the yard’s ability to handle more complex and higher-value projects, potentially boosting its profile in the shipbuilding market.

The two new bulk carriers will strengthen Huarong Leasing’s presence in the dry bulk shipping sector, offering additional capacity to support long-term charter operations. By expanding into the newcastlemax segment, the company aligns with its strategy to enhance fleet versatility while meeting growing demand from commodity traders and logistics operators in the Asia-Pacific region.

Huarong’s investment also reflects the ongoing trend of leasing companies renewing their fleets with modern, high-capacity vessels to improve operational efficiency, reduce emissions, and meet the evolving needs of global shipping markets.

Overall, the deal underscores both Huarong Financial Leasing’s commitment to strategic fleet expansion and Taizhou Kouan Shipbuilding’s growing capabilities in constructing large, technically demanding vessels. With deliveries anticipated in 2029, the new ships are expected to play a key role in the company’s leasing and charter operations, while enhancing regional shipbuilding expertise and capacity.