China’s Shandong Ocean Shipping Group is expanding into the capesize bulker segment with a pair of newbuildings.

The maritime logistics arm of Shandong Port Group has returned to Hengli Shipbuilding for the 181,000 dwt vessels as part of a strategic push to strengthen its dry bulk fleet.

The new order follows two firm 95,500 dwt bulker newbuildings booked by Shandong Ocean in June, valued at roughly $37m each, with options for additional units.

While the post-panamaxes have an estimated delivery schedule between 2028 for firm and 2029 for optional vessels, delivery timeframes and financial terms for Shandong Ocean’s capes have not been revealed by the yard.

Hengli’s parent Songfa, however, said in a filing that the deal, worth between $200m and $400m, which also included a VLLC for a European owner, will see the vessels delivered from mid-2026 through the second half of 2027.