Eastern Pacific Shipping Expands Fleet with New Capesize Order
Eastern Pacific Shipping, led by Idan Ofer, has significantly bolstered its newbuilding program with a recent order for four capesize bulk carriers from Hengli Shipbuilding in China. The vessels, each with a deadweight tonnage of 180,000, are scheduled for delivery in 2027, with the total deal valued between $200 million and $400 million. This latest acquisition adds to Eastern Pacific’s impressive portfolio, which now exceeds 140 newbuildings across various types.
Major Expansion in Newbuilding Program
The recent capesize order is part of a broader strategy by Eastern Pacific Shipping to enhance its fleet capabilities. Hengli Shipbuilding has confirmed a substantial newbuilding program for the company, which includes a 12-ship package that ranks among the yard’s largest contracts this year. This earlier agreement, valued between $1.1 billion and $1.6 billion, encompasses a diverse range of vessel types, marking Eastern Pacific’s return to the Very Large Crude Carrier (VLCC) market after a seven-year hiatus.
In addition to the four capesize bulkers, the comprehensive package from Hengli includes four 6,000 TEU containerships, two LR2 product tankers, and one 82,000 dwt bulker. This diverse order not only highlights Eastern Pacific’s strategic approach to fleet expansion but also reinforces its status as a key player in the global shipping industry. With nearly 30 vessels ordered from Hengli Heavy Industry, Eastern Pacific Shipping is positioning itself as one of the most active participants in the newbuilding market, with a varied order book that spans tankers, gas carriers, bulkers, and boxships.
