Thailand’s Precious Shipping has moved quickly to line up work for two ultramax bulker newbuilds it has just acquired from Jaldhi Overseas, fixing both vessels straight back to the Singapore-based outfit on long-term, index-linked charters.

The Ubon Naree has been fixed for 24–26 months at a gross variable rate equivalent to 115% of the Baltic Exchange Supramax Index (BSI 63K), based on the weighted average of the previous 15 days. At current levels, the rate works out at around $14,000 per day.

A sister ship, the Uthita Naree, has secured identical terms with Jaldhi Overseas.

Both vessels were recently delivered from Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC). Precious paid $37.25m per ship for the ultramaxes, which were originally ordered by Jaldhi at the yard in 2022. Following delivery, the ships were transferred to a Precious subsidiary and registered in Singapore.

With the latest deliveries, the Khalid Hashim-led owner now controls a fleet of 41 ships.

The two fixtures follow another ultramax deal announced earlier this month. The Uma Naree was fixed with Switzerland-based Oceana Bulk for 13–15 months at a variable rate linked to 100% of the BSI 63K, equivalent to about $12,200 per day at the time.