Shandong Ocean Shipping Group is making strategic moves to bolster its dry bulk fleet by tapping into the domestic shipbuilding market.

The maritime logistics subsidiary of Shandong Port Group has selected Hengli Shipbuilding for the construction of two 95,500 dwt vessels.

The total value of the deal stands at CNY548m (around $76m), with Hengli likely delivering the newbuilds in 2027.

The yard in Dalian has secured multiple bulker orders over the past two years, with most newbuilding projects originating from the kamsarmax market.