Bulgaria’s largest shipowner continues its rapid fleet expansion with more Chinese handy orders. Navibulgar has gone to Chengxi Shipyard for four 42,000 dwt bulkers, with brokers suggesting the owner is paying $23m per unit. The ships will deliver in 2019.
The ship design is a familiar one for Navibulgar. The Bulgarian company has opted for the Bluetech 42 design developed by Finland’s Foretech, a ship type it has already ordered six times in China in recent years.
The 42,300 dwt ships are 185 m long and have a hold volume of 57,750 cu m, some 15% bigger than most of its rivals.
As well as newbuilds, Navibulgar has been very active in the S&P market over the past two years.