Thailand’s Precious Shipping signed contracts with China’s Taizhou Sanfu Ship Engineering on September 30 for four 64,500 DWT Ultramax bulk carriers costing $141.8 million in total.
Each vessel is priced at $35.45 million. The contracts will take effect once the buyer receives refund guarantees covering the first instalments and the yard receives those payments, the company said in a stock exchange notification.
The ships are scheduled for delivery in April, July and October 2030 and January 2031.
Precious Shipping expects its fleet to reach 47 vessels with combined capacity of about 2.34 million DWT after the quartet and two previously ordered ships have been delivered.
The new vessels will be based on Sanfu’s latest Ultramax design. Compared with the company’s previous generation of Ultramaxes, they will have greater deadweight capacity, propulsion upgrades, a shaft generator, hull improvements and further energy-saving measures.
“These enhancements are expected to improve fuel efficiency, reduce emissions and enhance the long-term operating performance and competitiveness of the vessels,” the company said.
Precious Shipping plans to finance the vessels using cash reserves held internally and loans from financial institutions.
The payment schedule allocates 25 per cent to the first instalment, followed by 15 per cent at steel cutting, 10 per cent at keel laying and 10 per cent at launching, subject to receipt of refund guarantees, with payment within five banking days. The remaining 40 per cent is due on delivery.
The order follows contracts placed with Sanfu in 2024 for four 63,500 DWT Ultramaxes at a combined price of $133.46 million.
Rossarin Naree was delivered at the end of May 2026, followed by Ratima Naree in early September. The remaining two vessels from that series are due by the first quarter of 2027.
