Shanghai Time Shipping has stepped into the newbuilding market with an order for three bulk carriers, marking its first collaboration with Nantong Xiangyu Shipbuilding & Offshore Engineering.

The Chinese owner has contracted two 82,000 dwt kamsarmax vessels alongside one 63,800 dwt ultramax, with all three ships scheduled for delivery in 2029.

The move signals fleet expansion for the COSCO Shipping and Huaneng Group joint venture, which currently operates a fleet of around 25 bulkers ranging between 50,000 dwt and 115,000 dwt.

The deal also establishes a new yard relationship, with Nantong Xiangyu securing its first contract from Shanghai Time Shipping, which according to shipbuilding databases last placed newbuild orders in 2011.

For the yard, the order adds to a growing list of domestic and international clients as it looks to build its presence in the bulk carrier segment. Xiangyu has been active in both securing new contracts and delivering vessels, including a recent 82,000 dwt bulker handed over to Greek owner TMS.