Veritas Returns to COSCO Shipping Heavy Industry (Zhoushan) with Two 64,000 DWT Ultramax Orders
Greek bulk carrier owner Veritas Ship Management has once again chosen COSCO Shipping Heavy Industry (Zhoushan) for new vessel construction, expanding their partnership established in 2023.
Order for Two Ultramax Bulk Carriers
Veritas has ordered two 64,000 DWT Ultramax bulk carriers from the yard, with delivery set for 2030. The contract value remains undisclosed, but shipbrokers estimate the current cost of building a standard Ultramax bulk carrier at Chinese shipyards to be around $36 million per vessel, totaling the cost for Veritas’s two new ships at approximately $72 million.
Continued Collaboration and Fleet Details
The collaboration between Veritas and COSCO Shipping Heavy Industry (Zhoushan) began three years ago, with the shipyard signing contracts to build four 63,600 DWT bulk carriers for Veritas. Currently, Veritas operates five bulk carriers, with the most recent additions, the “Axion Esti” and the “Pantokrator,” both 63,928 DWT bulk carriers, delivered in 2025 and 2026, respectively. The remaining three vessels in Veritas’s fleet are older ships.
COSCO Shipping Heavy Industry (Zhoushan) has announced nine new shipbuilding projects this year, including the latest orders from Veritas, demonstrating their active involvement in the shipbuilding industry.
