Japanese owner Kasuga Kaiun has returned to Chinese builder New Dayang with an order for two more ultramax bulk carrier newbuilds.
No price has been revealed for the pair of 64,100 dwt vessels, which takes Kasuga’s bulker orderbook at the shipbuilding arm of state-run machinery manufacturer Sumec Group to five.
Kasuga is listed with 17 owned ships, predominantly bulkers. The company ordered three newbuilds in early 2024 at around $34m each for delivery in 2026.
The first Japanese customer to sign up for ultramaxes at New Dayang should see the latest duo delivered in the second quarter of 2028. Last year, Japan’s Itochu Corp also contracted two ultramaxes at the Jiangsu-based yard for delivery in 2026 and 2027.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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