Chinese bulker owner Fujian Guohang Ocean Shipping has scrapped plans to build two 73,800 dwt bulk carriers at Jiangsu Haitong Offshore Engineering Equipment, saying the ships no longer fit its strategic direction.
The Beijing Stock Exchange-listed company’s board approved the decision to terminate the construction contract, which was part of a four-plus-two series originally signed in January 2023.
The pair were optional vessels, with contracts formalised in January 2024 but never activated, as Guohang did not pay the first instalment.
Fujian Guohang said the ships were designed for domestic dry bulk operations, making them unsuitable for international routes. Adjusting the vessels for global trades would require a “comprehensive overhaul” of their hull structure, load capacity and seaworthiness standards, the company explained — a costly move that would leave the ships uncompetitive against export-focused designs.
The company said the decision reflects a strategic shift toward international trade routes and fleet expansion that bridges both domestic and overseas markets. “Continuing these domestic bulk carriers would not align with our long-term development goals or make efficient use of funds and resources,” Fujian Guohang said.
Fujian Guohang has been one of China’s most active private bulker players. It ordered four firm 73,800 dwt vessels at Jiangsu Haitong in a deal worth about $128m and has since moved on to larger, greener projects — including a series of up to 10 methanol-ready kamsarmaxes at Wuhu Shipyard, with deliveries starting in 2026.
According to VesselsValue, the company’s fleet currently includes 12 owned bulkers, with two handysize units agreed for sale and as many as 16 newbuilds still in the pipeline.
