Zhejiang Shipping Group has moved into the capesize arena, with the delivery of its first newcastlemax bulk carrier.

The 2019-built, 210,000 dwt ZH Dampier becomes the first newcastlemax vessel controlled by the group since its restructuring. The giant ship is operated under an operating lease arrangement with China Merchants Leasing. Financial details of the lease arrangement have not been revealed.

Stater-run Zhejiang Shipping’s fleet of 52 vessels is predominantly made up of ultramaxes, supramaxes and panamaxes.