Tomini Shipping Orders Kamsarmax Trio

UAE-based Tomini Shipping, the shipping subsidiary of Tomini Group, has ordered three 82,000 dwt Kamsarmaxes from the Chinese shipbuilder Taizhou Kouan Shipbuilding.

The vessels are scheduled for delivery in the second half of 2019 onwards and follow the company’s order from June for three newbuilding bulk carriers placed with China’s CIC (Jiangsu) shipyard.

The 64,000 dwt Ultramaxes ordered at CIC are set for delivery in the first quarter of 2019.

This company said that the latest deal underlines its comprehensive fleet renewal strategy.

“We decided to move into the Kamsarmax dry bulk sector and take advantage of the historically low asset price levels; we believe that this sector is on its way to a sustainable recovery by 2019/2020,” said Imtiaz Shaikh, Chairman of Tomini Group.

The order will take Tomini’s fleet to over 18 vessels.

The Chinese shipyard Taizhou Kouan has secured an order for up to two more 82,000 dwt newbuildings from Ukrainian Aquavita International. As informed by Clarksons, one firm order plus option for one more have been agreed. The ship is slated for delivery in 2020.

The financial details of the two orders have not been disclosed.