John Fredriksen’s private investment arm, Seatankers Management, has re-entered the large bulk carrier newbuild market with an order for up to eight newcastlemax vessels at China’s Panjin Dajin Offshore.

Shipbuilding sources say the Cyprus-based outfit has signed firm contracts for four 210,000 dwt units, with options attached for a further four. Deliveries for the firm ships are slated between the second half of 2028 and the first half of 2029.

Brokers have put the price at around $73.5m per vessel, taking the value of the firm order to just under $300m, with the optional vessels potentially doubling that exposure.

The move marks a return to big dry bulk for Seatankers, which recently has been more focused on the VLCC space, together with Fredriksen’s wider group, lining up a string of supertanker newbuildings at Hengli Shipbuilding in Dalian.

The latest deal builds on earlier newcastlemax plays in 2024 when Seatankers booked a series of similar-sized vessels, adding to an earlier round of orders dating back to 2018.

The timing lines up with a broader pickup in large bulk carrier contracting, with owners betting on long-haul trades and scale advantages. Hong Kong-listed Seacon Shipping and UK-based Union Maritime have both stepped into the segment this year with their first newcastlemax orders. Greek owner John Coustas, through Danaos, has also secured berths at Dajin for a series of around 211,000 dwt units due for delivery from 2028.