Cido Shipping is back to building bulkers with a massive order for 12 ships spread between two shipyards in China.
The Hong Kong-based diversified owner and operator has commissioned Jiangsu New Hantong to build a quartet of kamsarmaxes and ultramaxes, with New Dayang Shipbuilding selected for another four kamsarmax units.
The 82,000 dwt vessels were priced at $35m, while the 64,000 dwt ultramaxes came with a price tag of $33m, according to Genoa-based shipbroking group Banchero Costa.
Mostly known for its car carriers and tankers, Cido’s previous bulker order was placed at Japan’s Shin Kurushima Onishi in 2015 for 61,400 dwt ultramax Fortune Bell. According to VesselsValue data, the last time the company placed an order with a Chinese shipyard was for a 57,000 dwt supramax bulker in 2008.
The latest move will see the outfit with around 60 ships bolster its bulk carrier portfolio to over 15 units when they deliver in 2025 and 2026. The company also has four neopanamax containerships and a pair of VLGCs under construction in South Korea.
