Dry CargoEurope

Ciner orders ultramax quartet in China

This month, Turgay Ciner and his Ciner Ship Management has fattened the outfit’s bulker arm significantly. Over the weekend, brokers report that Ciner has ordered four 63,000 dwt ultramaxes at New Dayang, with delivery in 2024. No price has been revealed for the newbuilds.

Earlier this month, it was widely reported the Turkish owner had added its first capes from the secondhand market, buying two six-year-old Dalian Shipbuilding-built vessels from Rizhao Steel’s shipping arm, Cara.

The newbuildings and secondhand deals bring Ciner’s bulker arm up to 26 young ships. Ciner has been involved in several other large financial transactions in the last 12 months, including a deal with CSSC Shipping for the sale and leaseback of two 158,000 dwt suezmax tankers.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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