Brokers: Nisshin Splashing Over USD 600 Mn on Newbuilds

Oshima Shipbuilding Japanese shipping company Nisshin Shipping has been tied to an order for up to 25 new ships at Chinese and Japanese shipbuilders as the company pushes forward with its ambitious fleet modernization plan. The order, estimated to be worth around USD 666 million, includes four small chemical tankers, seven Ultramax bulk carriers, and 14 Panamax bulkers, data from VesselsValue shows. Oshima Shipbuilding won the most orders, a total of 14 newbuildings, seven 62,000 DWT bulkers and seven 82,000 DWT bulk carriers. The Panamaxes are valued at USD 25 million apiece, while Panamax newbuilings are priced at USD 27 million each, bringing the total order value at the yard to USD 364 million. The deliveries are scheduled to start in 2019 continuing into 2020 and 2021. Japanese shipbuilder Usuki Zosensho has secured an order for four 21,000 cbm chemical tankers of 19,700 dwt. The new tankers, priced at USD 33.5 each, are slated for delivery in 2020, according to VesselsValue. Chinas Jiangsu Nantong Ship Heavy Industry was tied to the remainder of the batch, a total of seven 82,000 dwt bulkers worth USD 24 million apiece. As disclosed, the newbuildings are set to join Nisshins fleet in 2020. The latest order for seven Panamaxes at Jiangsu Hantong, comes on the heels of an order placed by Nisshin with the shipbuilder in July this year. To remind, the contract comprises five firm orders scheduled for delivery in 2018, while the two optional units, if ordered, would be handed over in 2019. World Maritime News Staff