Singapore-based owner and operator Pioneer Logistics has contracted for its first bulk carrier newbuilds.

The company’s bulker unit has commissioned six ultramaxes at Jiangsu Hantong Ship Heavy Industry in China.

The order comes hot on the heels of Pioneer Tanker signing up for at least seven 18,500 dwt chemical carriers at Fujian Southeast Shipyard for $33m each and delivery in 2026.

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Pioneer currently operates 11 bulkers, with nine supramaxes, one cape and a newcastlemax, according to its website.

Brokers are quoting around $34m for ultramax newbuild tonnage in China, but financial terms surrounding the company’s debut in the segment and delivery schedules for 63,500 dwt ships have not been divulged.


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Issue 90 of Robban Assafina

(Mar./April 2024)


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