Union Maritime Expands Newbuild Orderbook to 69 Vessels, Chinese Yards Secure 90% of Orders
Diversified shipowner Union Maritime is making significant strides in expanding its orderbook, with the newbuild fleet set to increase to 69 vessels. A staggering 90% of these vessels are being constructed by Chinese shipyards, with Wuhu Shipyard securing the lion’s share of the orders.
Rapid Expansion in Gas Carrier Market
Market reports reveal that Union Maritime is rapidly growing its presence in the gas carrier market. The company recently placed an order with the private Chinese shipbuilder Yangzijiang Shipbuilding for two 88,000 cbm Very Large Ammonia Carriers (VLACs). These vessels, to be constructed by New Yangzijiang Shipbuilding, are scheduled for delivery in 2029 and 2030. The order has been confirmed by Yangzijiang Shipbuilding in its quarterly report.
Growing Orderbook and Newbuild Projects
Union Maritime has so far ordered a total of four large gas carriers, including the two VLACs mentioned earlier. Additionally, the company has ordered two 90,000 cbm Very Large Gas Carriers (VLGCs) from HD Hyundai Heavy Industries, with delivery expected in 2029.
According to fleet data from Union Maritime’s official website, the shipowner’s active fleet consists of 109 vessels, comprising 89 tankers, 15 dry bulk carriers, and 5 offshore vessels. Furthermore, there are 69 newbuilds currently under construction, with tankers representing over 72% of the orderbook, followed by gas carriers and dry bulk carriers.
The newbuild projects are spread across shipyards in China, South Korea, Japan, and Vietnam, with Chinese shipyards accounting for around 90% of the total. Wuhu Shipyard leads in the number of orders, followed by Mawei Shipbuilding and Penglai Zhongbai Jinglu Ship Industry Co., Ltd. (Jinglu Shipyard).
Union Maritime’s orders at Chinese shipyards include a variety of vessel types, ranging from bulk carriers to product tankers and chemical tankers. The company also has orders at shipyards in Japan and South Korea, showcasing its global reach and commitment to fleet expansion.
In addition to newbuilding projects, Union Maritime is actively involved in the sale and purchase of second-hand vessels, further enhancing its fleet capabilities and market presence.
By strategically partnering with key shipyards and continuously investing in newbuild projects, Union Maritime is poised for sustained growth and success in the competitive maritime industry.
