The industrious New Dayang Shipyard, an essential part of Sumec Group’s maritime construction activities, has recently secured further commissions for its ultramax bulk carrier projects. Among its new contracts, Huaxia Financial Leasing from Beijing has committed to eight ultramax bulk carriers of the Crown 63 Plus design at New Dayang Shipbuilding, a crucial component of the Sumec Group, which is recognized as a heavyweight in the state-owned machinery manufacturing sector. This follows closely on the heels of a notable order from Ciner Shipping Industry & Trading, a prominent Istanbul-based shipping enterprise, which has augmented its fleet with an additional four ultramax bulk carriers at New Dayang Shipyard located in Jiangsu, China. While specific financial details of Huaxia Financial Leasing’s order remain under wraps, these newly acquired vessels are presently estimated at around $34 million each according to current market valuations. This flurry of activity in March 2024 highlights New Dayang Shipyard’s growing order book, including an agreement with China Construction Bank (CCB) Financial Leasing for two bulk carriers intended for operation by Bohai Shipping (Hebei), coupled with a preliminary agreement for two more vessels. Additionally, the Monaco-based Transocean Maritime Agencies (TMA) has entered the fray with a reservation for two 64K DWT Crown 63 Plus design ultramax bulk carriers, set for delivery in 2026. Ciner Shipping Industry & Trading, under the dynamic leadership of its executive team, has been assertive in the shipping industry, capitalizing on the efficient designs offered by New Dayang Shipyard. The company’s strategic investment in the ultramax segment through New Dayang Shipyard not only underscores its commitment to expanding and modernizing its fleet but also reflects a broader trend of shipping companies investing in larger, more efficient vessels to optimize operational costs and environmental performance. Ciner Shipping Industry & Trading’s engagement with New Dayang Shipyard for these additions is a testament to the shipyard’s capability and reputation in delivering high-quality, reliable maritime assets. With Sumec Group’s maritime branch, Sumec Ocean Transportation, overseeing the transition of Dayang Shipbuilding since its acquisition in 2018, the order backlog for Crown 63 Plus ultramax bulk carriers has impressively reached 65 ships. This expansive portfolio includes contracts with a diverse international clientele from Europe, the Middle East, Japan, Taiwan, and Hong Kong, indicating the global trust and reliance on Sumec Group’s shipbuilding excellence. Ciner Shipping Industry & Trading’s recent procurement is a part of this global narrative, demonstrating the shipping industry’s evolving dynamics and the strategic moves by companies to align with future market demands and sustainability goals. 5-April-2024
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading has expanded its fleet with an order for four additional ultramax bulk carriers from New Dayang Shipyard in China. The financial details of this new order have not been disclosed by Ciner Shipping Industry & Trading. However, shipbrokers estimate place the cost of each ultramax bulk carrier at approximately $33 million. In the span of the last twelve years, Ciner Shipping Industry & Trading has placed orders for a total of 15 ultramax bulk carriers with New Dayang Shipyard, a facility owned by the Sumec Group, a state-operated machinery manufacturing firm. Since acquiring Dayang Shipbuilding in 2018, Sumec Group has amassed a production schedule with a backlog of 67 ships, extending production capabilities into the fourth quarter of 2027. Led by CEO Vasileios Papakalodoukos, Ciner Shipping Industry & Trading operates within the dry bulk and tanker sectors, with its current fleet comprising 24 vessels. 3-April-2024
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading has elevated its Jiangmen order book to include 10 handysize bulk carriers, demonstrating the significant expansion of the shipowner. Currently, the Ciner Shipping Industry & Trading has a remarkable total of 17 bulk carriers under construction in China, amounting to a value exceeding half a billion dollars. In 2022, Turgay Ciner-led Turkish shipowner and operator Ciner Shipping Industry & Trading ordered four (4) 40K DWT open-hatch bulk carriers from Jiangmen Nanyang Ship Engineering. However, it seems that Ciner Shipping Industry & Trading has developed an even greater appetite for growth. Ciner Shipping Industry & Trading had now commissioned an additional six (6) bulk carriers of the same kind at the same shipyard, resulting in a substantial increase in their order book to a total of 10 bulk carriers. 28-June-2023
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading received $136 million in financing from SPDB Financial Leasing for four (4) ultramax newbuilding bulk carriers at New Dayang Shipbuilding, as well as for another four (4) ships already operating. CEO Vasileios Papakalodoukos-led Ciner Shipping Industry & Trading notched up yet another ship financing deal in China, strengthening the company’s already remarkable history of leasing transactions there. Ciner Shipping Industry & Trading will take the delivery of four (4) ultramax newbuilding bulk carriers at New Dayang Shipbuilding in 2024. Ciner Shipping Industry & Trading was founded in 2009 by Turgay Ciner. Istanbul-based shipowner and operator Ciner Shipping Industry & Trading charters out the company’s fleet to first-class charterers such as Cargill, RWE, Pacific Basin, SwissMarine, Western Bulk, Rio Tinto, Vale, BHP Billiton, Bunge, Arcelor Mittal, Oldendorff, Vitol, KOCH Industries, Louis Dreyfus. Currently, the Ciner Shipping Industry & Trading fleet comprises 20 bulk carriers with a combined deadweight of approximately 1,400,000 tons and 4 suezmax tankers with a combined deadweight of 635,000 tons. 26-October-2022
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading ordered four (4) handysize 40K DWT bulk carrier newbuildings at Jiangmen Nanyang Ship Engineering. CEO Vasileios Papakalodoukos-led Ciner Shipping Industry & Trading will be paying around $120 million total. Ciner Shipping Industry & Trading will take the delivery of four (4) handysize 40K DWT bulk carrier newbuildings between June 2024 and September 2024. Ciner Shipping Industry & Trading was founded in 2009 by Turgay Ciner. Turkish shipowner and operator Ciner Shipping Industry & Trading aim to renew the fleet. Ciner Shipping Industry & Trading’s agreement with Jiangmen Nanyang Ship Engineering does not include any optional bulk carrier newbuildings. 10-August-2022
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading ordered four (4) ultramax newbuilding bulk carriers at New Dayang Shipbuilding with three (3) options. Ciner Shipping will take the delivery of four (4) ultramax newbuilding bulk carriers in Q2 2024. Ciner Shipping’s order indicates the confidence shipowners display in a shipping supercycle post-coronavirus recovery. Rising dry bulk freight rates have sparked an increase for bulk carriers in the secondhand market, making bulk carriers increase by more than half since the start of 2021. Currently, the price tag of a 2015 built ultramax bulk carrier surpasses $30 million which was the cost of a similar new building. Istanbul-based shipowner and operator Ciner Shipping Industry & Trading is familiar with New Dayang Shipbuilding. Previously, Ciner Shipping ordered and took delivery seven (7) ultramax bulk carriers. Ciner Shipping’s four (4) ultramax newbuilding bulk carriers will be built to the IMO’s Tier III NOx standards. Ciner Shipping Industry & Trading was founded in 2009 by Turgay Ciner. 8-September-2021
Istanbul-based shipowner and operator Ciner Shipping Industry & Trading made the first move in the S&P (Sale and Purchase) market for secondhand bulk carriers. Ciner Shipping acquired 2016 built capesize bulk carrier 180K DWT MV Stella Nora and 2016 built capesize bulk carrier 180K DWT MV Stella Naomi for $44 million each. Ciner Shipping acquired capesize bulk carriers from Cara Shipping. Ciner Shipping will take the delivery of MV Stella Nora and MV Stella Naomi in October 2021. MV Stella Nora and MV Stella Naomi were built at Shanghai Waigaoqiao Shipbuilding. MV Stella Nora and MV Stella Naomi have a BWTS (Ballast Water Treatment Systems) fitted. Ciner Shipping will charter out MV Stella Nora and MV Stella Naomi to Germany-based RWE Group. Previously, Ciner Shipping chartered out 2015 built capesize bulk carrier 180K DWT MV Vittoria and 2015 built capesize bulk carrier 180K DWT MV Mehmed Fatih to Germany-based RWE Group. CEO Vasileios Papakalodoukas-led Ciner Shipping wants to profit from a red-hot dry bulk freight market. 5-September-2021
Turkish Ciner Ship Management owned 2013 built ultramax bulk carrier MV Kenya was arrested in Gujarat, India. ING Bank continues to chase shipowners for payments owed to OW Bunker. High Court of Gujarat ordered the arrest of the Ciner Ship Management ship. Ciner Ship Management owned ultramax bulk carrier MV Kenya was fixed to Danish ship operator Copenship. Copenship declared bankruptcy in 2015 and left the bunker bill unpaid to OW Bunker. 24-August-2016