Eastern Pacific Shipping Expands Fleet with New Capesize Bulk Carrier Order
Idan Ofer’s Eastern Pacific Shipping has significantly bolstered its newbuilding program by placing an order for four capesize bulk carriers at Hengli Shipbuilding in China. This latest acquisition, valued between $200 million and $400 million, is part of a broader strategy to enhance the company’s fleet capabilities. The 180,000 deadweight tonnage (dwt) vessels are scheduled for delivery in 2027, further solidifying Eastern Pacific’s position in the maritime industry.
This new order adds to Eastern Pacific’s impressive portfolio, which already includes over 140 newbuildings of various types across shipyards in the Far East. The company has been actively expanding its fleet to meet growing market demands and to maintain its competitive edge in the shipping sector.
Strategic Partnerships and Broader Newbuilding Program
Hengli Shipbuilding has confirmed a substantial newbuilding program for Eastern Pacific, which includes a 12-ship package that ranks among the yard’s largest contracts this year. Brokers estimate the value of this earlier order to be between $1.1 billion and $1.6 billion. This comprehensive package encompasses three vessel segments, marking Eastern Pacific’s return to the Very Large Crude Carrier (VLCC) market after a seven-year hiatus.
In addition to the four capesize bulk carriers, the broader order includes four 6,000 TEU containerships, two LR2 product tankers, and one 82,000 dwt bulker. This diverse range of vessels illustrates Eastern Pacific’s strategic approach to fleet diversification, enabling the company to cater to various segments of the shipping market.
With the latest capesize order, Eastern Pacific’s total business with Hengli Heavy Industry is nearing 30 vessels. This partnership not only enhances Eastern Pacific’s operational capabilities but also reinforces its status as one of the most active players in the newbuilding market. The company’s extensive orderbook now spans tankers, gas carriers, bulkers, and boxships, reflecting its commitment to meeting the evolving needs of global shipping.
As Eastern Pacific Shipping continues to expand its fleet, the maritime industry will be watching closely to see how these new vessels will impact its operations and market presence in the coming years.
