Union Maritime has ordered nine new vessels, including Newcastlemax and Handysize bulkers, as part of its fleet expansion strategy.
UK-based Union Maritime has announced that it has placed orders for nine newbuilds covering four different ship segments. The program includes Newcastlemax and Handysize bulk carriers, as well as chemical tankers and product tankers.
The company did not disclose the distribution of the nine vessels by segment, the shipyards where they will be built, the contract values, technical specifications, or delivery dates. Therefore, the total carrying capacity of the orders and the size of the investment cannot yet be calculated.
This new decision is a continuation of Union Maritime's fleet renewal program, which it has accelerated in recent years. Industry data published in August indicated that the company had a construction program comprising 69 vessels; of these, 50 were oil tankers, 15 were bulk carriers, and four were gas carriers. It was noted that approximately 90% of the vessels were being built in Chinese shipyards.
Wuhu Shipyard held the largest share in the previously announced program with 20 vessels. Other orders were also distributed among shipyards in South Korea, Japan, and Vietnam. The company has not confirmed whether the last nine vessels will be added to the same distribution.
The order indicates that shipowners do not wish to remain tied to a single segment despite geopolitical uncertainties. However, it is not possible to make a definitive judgment on the balance sheet impact of the investment without disclosing the ship price, financing structure, and delivery schedule. In newbuilding news, the certainty of the number of contracts and the verification of shipyard slots are also of significant importance.
Source: SeaNews Türkiye
