Cido Shipping linked to ordering spree for a dozen bulker carriers

Hong Kong-based Cido Shipping has placed orders for a series of twelve bulk carriers at Chinese shipyards as part of a major fleet renewal push.

The order has been divided across three shipyards, with each shipyard entrusted with the construction of four ships.

The first quartet will be constructed by Jiangsu Hantong shipyard in China, and the ships will boast 82,000 dwt respectively. Under the terms of the deal, Cido Shipping will pay $35 million per vessel, Athens-based shipbroker Intermodal said.

The company has also inked a deal with the New Dayang shipyard in China for the construction of an additional four bulk carrier vessels of the same size. These ships are part of a discreet transaction with an undisclosed financial arrangement.

In addition to the larger vessels, Cido Shipping has also commissioned a set of four bulk carriers, each with a 64,000 dwt. These vessels will also be built by Jiangsu Hantong, and are estimated to cost $33 million per unit.

All vessels are slated for delivery in 2026.

Cido Shipping has over 65 vessels in its fleet, based on the company’s data. According to VesselsValue, the versatile shipowner has four New Panamx containerships on order at Korean yards, including two at Hyundai Samho Heavy Industries and two at Hyundai Heavy Industries (HHI). Two 15,000 TEU ships are scheduled for delivery in 2023 and the remaining duo will follow in 2024.

In addition, HHI is building a pair of 91,000 cbm LPG gas carriers, Botan and Tsubaki, for the company which is slated for delivery to the company later this year.