Bulgarian shipowner IHB Shipping, a subsidiary of Industrial Holding Bulgaria (IHB), has announced a significant fleet renewal with an order for three ultramax newbuilds from Chinese shipbuilder New Dayang. This move reflects IHB’s commitment to modernizing its operations and expanding its capabilities in the global shipping market.
Fleet Expansion Details
The Varna-based company has secured a deal worth approximately $104.3 million for two firm ultramax vessels of the Crown 63 Plus design, with an option for a third. The delivery timeline for these vessels spans from late October 2027 to late May 2028. The third vessel’s option is anticipated for approval in July 2024.
Cost Breakdown
- First Vessel: Priced at $35.15 million, excluding additional construction costs.
- Second and Third Vessels: Each costing $34.6 million.
These newbuilds represent a strategic investment, allowing IHB Shipping to enhance its fleet with state-of-the-art vessels.
Current Fleet Overview
IHB Shipping currently operates a fleet comprising:
- Two Supramax Bulk Carriers
- Two Handy Bulk Carriers
All existing vessels were constructed at IHB’s own Bulyard Shipyard, with the most recent order dating back to 2010.
This fleet renewal marks a significant milestone for IHB Shipping, reinforcing its position in the maritime industry. By partnering with New Dayang, a reputable shipbuilder under the Sumec Group, IHB is poised to enhance its competitive edge and operational efficiency. The new ultramax vessels will undoubtedly contribute to the company’s growth and success in the years to come.
