Recently, Xiangyu Shipbuilding secured its first order for 210,000 DWT ultra-large bulk carriers (Newcastlemax type), leveraging its brand and technological strengths. This milestone marks the company’s expansion into higher-capacity and greener vessels, aligning with the theme of “Green Navigation, Striving for Innovation” for Maritime Day.
The newly contracted 210,000 DWT bulk carriers measure 299.95 meters in length, 50 meters in beam, and 25 meters in depth. These vessels feature high load capacity, strong economic efficiency, superior maneuverability, and significant energy-saving advantages, making them a mainstay in the international dry bulk shipping market. Xiangyu Shipbuilding will employ more efficient main engine solutions and energy-saving designs to build premium ships that comply with the latest international standards and lead in performance metrics, further meeting global shipowners’ stringent requirements for carbon emissions control and fuel efficiency.
According to Clarksons, the order comes from Japanese shipowner Doun Kisen, comprising two vessels scheduled for delivery in 2027. The ships will use conventional fuel, with an estimated cost of $75–76 million per vessel, totaling $152 million (approximately RMB 1.091 billion).
For reference, Clarksons data shows that the current newbuild price for a 205,000–210,000 DWT Newcastlemax bulk carrier is $77 million, down about 4% from $80 million in the same period last year.
The 210,000 DWT bulk carriers will integrate multiple energy-saving and emission-reduction technologies. For instance, high-efficiency propellers, innovative energy-saving appendages, and next-generation hull optimization will significantly reduce main engine power demand and fuel consumption. The vessels will also be equipped with exhaust gas cleaning systems (EGCS) and ballast water treatment systems (BWMS) to meet sulfur oxide emission requirements in Emission Control Areas (ECAs). Additionally, selective catalytic reduction (SCR) systems for main and auxiliary engines will ensure compliance with Tier III nitrogen oxide standards and the Energy Efficiency Design Index (EEDI) Phase III requirements.
This order sets a new record for Xiangyu Shipbuilding. Currently, the company primarily builds eco-friendly small and medium-sized bulk carriers, tankers, stainless steel/coated chemical tankers, and other engineering vessels under 100,000 DWT. Clarksons data indicates that the largest vessels previously built by Xiangyu Shipbuilding were 82,000 DWT Kamsarmax bulk carriers.
Doun Kisen, the shipowner behind this order, is a long-standing client of Xiangyu Shipbuilding. Their collaboration dates back to 2018 when, despite a sluggish shipbuilding market, Doun Kisen placed orders for four 63,500 DWT and two 82,000 DWT bulk carriers at Xiangyu—marking its first shift from its traditional preference for Japanese shipyards.
Doun Kisen is one of the world’s largest private shipowners. VesselsValue data shows it owns and operates a fleet of around 150 vessels worth $10.1 billion, including bulk carriers, tankers, LNG carriers, container ships, LPG carriers, and car carriers.
Clarksons reports that Doun Kisen currently has 17 newbuilds on order, 11 of which are being constructed by Xiangyu Shipbuilding—eight bulk carriers and three chemical tankers. The remaining include four bulk carriers from Hengli Heavy Industry and two chemical tankers from Huanghai Shipbuilding.
Securing this order reflects Xiangyu Shipbuilding’s comprehensive manufacturing strength and market competitiveness. In recent years, the company has enhanced its management efficiency, construction capabilities, product quality, and delivery speed, securing batch orders for 64,000 DWT, 79,000 DWT, and 82,000 DWT bulk carriers, as well as small and medium-sized stainless steel chemical tankers, earning a solid brand reputation and customer trust.
Keeping pace with green and intelligent trends, Xiangyu Shipbuilding has also increased R&D investment in energy-saving technologies. For example, its “Jixiang” series bulk carriers, MR tankers, and multi-product duplex stainless steel chemical tankers achieve lower fuel consumption, higher load capacity, and larger cargo holds through optimized hull designs, reduced wind resistance, and rotor sails. The company is also advancing in energy conversion technologies, making notable progress in LNG and methanol dual-fuel applications while proactively researching ammonia-fueled vessel designs.
As of June 2025, Xiangyu Shipbuilding has accumulated 214 orders, with 121 delivered and 93 still in hand, totaling over 5 million DWT. Its 64,000 DWT bulk carriers and small-to-medium stainless steel chemical tankers rank among the top in China’s orderbook.
Moving forward, Xiangyu Shipbuilding will uphold its “craftsmanship + innovation” ethos, deepening its expertise in green and intelligent shipbuilding to deliver more “Xiangyu Smart-Built” maritime excellence, contributing to China’s maritime and manufacturing prowess.
