2 vessels! Huiyang Shipping adds order for 40,000-ton bulk carriers

Recently, Huiyang Shipping announced that it will place an order with Onomichi Shipbuilding in Japan to build 2 high-spec 40,000-ton bulk carriers.

The unit price of these two new ships will not exceed 33 million USD, with a total transaction amount not exceeding 66 million USD (approximately 472 million RMB), and they are expected to be delivered in 2028. For reference, according to Clarkson's data, the current new ship price for a 38,000-42,000 deadweight ton bulk carrier is 29.5 million USD, a 3% decrease compared to 30.5 million USD in the same period last year.

In recent years, Huiyang Shipping has been gradually updating its fleet at a pace of ordering 6-8 new ships annually. So far, Huiyang Shipping has a total of 13 new ships under construction, including 2 bulk carriers of 82,000 tons and 13 bulk carriers of 40,000 tons, which will be delivered successively from 2025 to 2027. The latest order was just signed in March this year, consisting of 2 bulk carriers of 39,000 deadweight tons ordered from Inland Sea Shipbuilding in Japan, planned for delivery in 2027.

In the first seven months of this year, Huiyang Shipping's consolidated revenue was NT$8.675 billion (approximately RMB 2.031 billion), down 28.17% year-on-year, with pre-tax profit of NT$555 million (approximately RMB 130 million); although revenue declined significantly, Huiyang Shipping's recent performance has shown clear signs of stabilization.

In the traditional off-season of July, Huiyang Shipping delivered an impressive performance, with consolidated monthly revenue reaching NT$1.343 billion (approximately RMB 314 million), a month-on-month increase of 12.93%; pre-tax profit was NT$244 million (approximately RMB 57 million), a substantial increase of 525% compared to June.

By the end of July, Huiyang Shipping had sold 4 old ships from its fleet, earning about 12 million USD in profit. It is expected that the total number of ships sold for the year could reach 10, and in October, 1 energy-saving new ship will be delivered to strengthen fleet competitiveness. Currently, Huiyang Shipping's fleet mainly consists of Handy, Ultramax, and Panamax types of small to medium-sized ships. As of the end of June, Huiyang Shipping operated a total of 132 bulk carriers, making it one of the largest bulk carrier owners in Taiwan.

Excluding the latest orders, Clarkson's data shows that Onomichi Shipbuilding currently holds orders for a total of 12 ships with 479,600 deadweight tons, including 8 bulk carriers, 3 chemical tankers, and 1 general cargo ship, with delivery schedules extending to 2028.

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