Bulgarian shipowner Navibulgar makes its debut in the Ultramax bulk carrier segment by ordering a new vessel from its long-term partner, Yangtze River Shipbuilding.
According to TradeWinds, Bulgarian shipowner Navibulgar has placed an order with Yangtze River Shipbuilding for four 71,000-dwt Ultramax bulk carriers equipped with cargo-handling systems. The new vessels are scheduled for delivery between 2028 and 2029, making them the largest bulk carriers in Navibulgar's fleet by deadweight tonnage.
The specific price of this order has not been disclosed. For reference, according to Clarkson data, the current newbuilding price for a 61,000–64,500-dwt Ultramax bulk carrier is approximately US$33.25 million (about RMB 236 million), representing a 5% decrease compared to US$35 million during the same period last year.
It is reported that these four vessels are part of the eight new ship orders announced by Yangtze River Shipbuilding in September of this year. At the time, Yangtze River Shipbuilding revealed that the eight orders included four container ships—two at 11,800 TEU, one at 1,800 TEU, and one at 1,100 TEU—as well as four bulk carriers with a deadweight tonnage of 71,000 tons. These new ships are set to be delivered sequentially between 2027 and 2029, with the total contract value amounting to approximately US$440 million (about RMB 3.139 billion).
Navibulgar's new ships are dubbed "ultra-large Ultramax (super-size ultramax)" vessels, with dimensions falling between those of a standard Ultramax bulk carrier and a Panamax bulk carrier. Standard Ultramax bulk carriers typically have a deadweight capacity ranging from 60,000 to 68,000 tons and usually measure no more than 200 meters in length. However, Navibulgar's new ships are even larger, boasting an overall vessel length of approximately 215 meters.
Sources reveal that Navibulgar is striving to become one of the leading owners in Europe's flexible bulk carrier sector, with the company planning to deploy these four new vessels on global routes.
It is understood that Navibulgar, a long-standing customer of Yangtze River Shipbuilding, is the largest operator of handy-size bulk carriers in Europe, with over 130 years of operational history. According to data from the company’s official website, its fleet currently comprises and operates 36 bulk carriers, each with a deadweight tonnage ranging from 22,000 to 46,000 tons. Including the latest order, all 22 bulk carriers ordered by the company since 2021 have been secured by Yangtze River Shipbuilding, totaling approximately US$650 million (about RMB 4.626 billion).
In addition to the four newly ordered 77,000-dwt bulk carriers, Navibulgar currently has three 32,000-dwt and three 45,000-dwt bulk carriers under construction at Yangtze River Shipbuilding, scheduled for delivery between 2026 and 2027.
According to a report released by Yangtze River Shipbuilding on September 27 of this year, the company has secured new ship orders totaling 44 vessels in the first nine months of the year, with a combined value of approximately US$1.9 billion (about RMB 13.527 billion). This figure represents 32% of the company's annual order target of US$6 billion.
As of June 30 this year, Yangtze River Shipbuilding holds orders for 236 vessels totaling 8.79 million CGT, with a combined value of US$23.2 billion (approximately RMB 165.176 billion). Delivery schedules extend as far as 2030, encompassing 107 container ships worth US$15.97 billion, 39 bulk carriers valued at US$1.63 billion, 26 LNG/LPG/VLAC/VLEC vessels priced at US$2.38 billion, and 64 oil tankers worth US$3.23 billion. Notably, green and clean-energy ship types account for about 74% of the total value of the company's order book.