Shih Wei Navigation Finalizes Bulker Orders

Shih Wei Navigation recently broke a nearly ten-year streak without orders by entering agreements for the construction of new UltraMax bulk carriers in Japan.

The Taiwanese owner and operator of about 30 ships have entered into a contract with Oshima Shipbuilding in Japan through Sumisho Marine to construct two vessels with a deadweight tonnage of 64,000 each.

The latest constructions, outlined in Taipei records with a price of up to $39 million per vessel, are set to be handed over in 2026.

The most recent instance of Shih Wei Navigation commissioning new buildings occurred in July 2014. During this period, the company secured an UltraMax vessel from Saiki Heavy Industries at the Onomichi Dockyard. Subsequently, Japan's Kasuga Shipping acquired the same vessel as a resale.