Shih Wei Navigation, a bulk carrier owner and operator in Taiwan Province of China, has officially ended a nearly 10-year order drought.
Shih Wei Navigation has signed a contract with Sumisho Marine and Oshima Shipbuilding to build two 64,000 dwt Ultramax bulk carriers at a cost of US$39 million per unit, which are expected to be delivered in 2026.
Shih Wei Navigation is said to have a fleet of around 30 vessels. The owner’s last order dates back to July 2014, for an Ultramax bulk carrier at Saiki Heavy Industries, a shipbuilder in Onomichi, Japan. Afterwards, the vessel was resold by Japan’s Kasuga Shipping.
It is worth noting that this is the second new vessel order announced by Japan’s Oshima Shipbuilding this week. Few days ago, European shipping investor Hayfin Capital Management announced that it has signed a contract with Sumisho Marine and Oshima Shipbuilding for the construction of two 100,000 dwt Post-Panamax (DWT) dry bulk carriers, which are expected to be delivered in 2026.