Six for the seas: Imabari powers ahead with back-to-back bulk carrier deliveries

Imabari Shipbuilding, considered to be the largest shipbuilding player in Japan, has been on a spree of deliveries within the bulk carrier segment, having handed over four 64,000 dwt and two 40,000 dwt units within the span of just under three weeks.

As informed, on January 10, 2025, Imabari held a delivery ceremony for the 64,000 dwt bulk carrier Madorosu booked by Singapore’s shipping firm Haring Marine in December 2021. The ship possesses an overall length of 199.98 meters, a width of 32.24 meters and a depth of 19.3 meters.

The 80,500 cbm Handymax is described as compliant with the International Convention for the prevention of pollution from ships (MARPOL) as well as the Hong Kong International Convention for the safe and environmentally sound recycling of ships, having had required technology such as ballast water treatment equipment installed.

Per Imabari, Madorosu is set to operate in accord with the Phase 2 requirements for carbon dioxide (CO2) emission reduction indicators, as well as the Phase 3 stipulations. The shipbuilder also underscored that the bulker’s ‘high propulsion’ performance was achieved via energy-saving devices installed near the propeller, along with hull coating that minimizes frictional resistance with seawater.

Just days later, namely on January 15, Imabari Shipbuilding rolled the red carpet for the 64,000 dwt bulker Norse Expansion, which was constructed by the Group’s Iwaki Shipbuilding for compatriot shipping company Nissen Kaiun. The order was made in January 2022, London-based data provider VesselsValue’s information reads.

This Handymax features a length of 199.98 meters, a width of 32.24 meters, and a depth of 19.3 meters.

Built to the same specifications as Madorosu, the Panama-flagged NOx III-compliant ship is set to embark on its journeys while slashing down on harmful pollutant emissions owing to the sustainability- and energy efficiency-oriented technology implemented, such as the water ballast treatment system, energy-saving devices near the propeller and the hull coating, Imabari stated.

As reported, on January 17, the Japanese shipbuilding major handed over the 40,000 dwt bulk carrier Ken Citrus the order for which was placed in March 2021 by compatriot company Inui Global Logistics.

The 49,000 cbm bulker boasts a length of 182.93 meters, a width of 31 meters, and a depth of 15 meters. The ship was equipped with four deck cranes for ‘improved’ cargo operations at ports with limited loading and unloading facilities.

Imabari put forward that, to achieve an ‘enhanced’ propulsion capability, Ken Citrus was also fitted with the same sustainability-focused technology as the previously mentioned ships.

What is more, like Madorosu and North Expansion, Ken Citrus is described as MARPOL- and Hong Kong convention-compliant.

The 64,000 dwt Ultra Confidence was handed over to Japan’s shipping player Taiyo Kaiun Kaisha on January 17, 2025, by Imabari’s group company Minaminippon Shipbuilding, which the Japanese titan took over after the yard’s largest stakeholders, compatriot maritime industry players Mitsui Engineering & Shipbuilding and Mitsui O.S.K. Lines (MOL), transferred their shareholdings to Imabari in April 2018.

As per VesselsValue, this 80,500 cbm ship was booked by Taiyo Kaiun Kaisha in December 2021.

According to Imabari Shipbuilding, Ultra Confidence is 199.8 meters long, featuring a beam of 32.24 meters and a draft of 19.3 meters. The Marshall Islands-flagged ship was outfitted with the same scope of solutions as the aforementioned vessels, i.e. energy-saving devices near the propeller, a ‘high-efficiency’ propeller, and the hull coating for minimal friction.

Imabari Shipbuilding shared that the MARPOL-compliant vessel ‘exceeds’ the required Phase 2 standards for CO2 emission reduction while remaining aligned with the stricter, Phase 3 standards.

On January 23, 2025, Imabari Shipbuilding, through its group company IS Shipbuilding, handed over the 40,000 dwt Marshall Islands-flagged SSI Formidable II to an undisclosed buyer. According to VesselsValue, this ship was booked in January 2022.

As informed, the 49,000 cbm vessel boasts an overall length of 182.93 meters, a beam of 31 meters and a depth of 15 meters.

This unit is said to be compliant with the MARPOL stipulations and with the Hong Kong convention as well. SSI Formidable II is set to operate in line with the Phase 2 carbon dioxide emission reduction stipulations as well, while “proactively complying” with the Phase 3 requirements, the company stated.

Moreover, as per Imabari, the newbuild is outfitted with a total of four deck cranes positioned on the cross-decks and folding-type hatch covers in each cargo hold, which is expected to optimize space and efficiency.

At the very end of January 2025, namely on the 29th of the month, Imabari Shipbuilding marked the launching of the 64,000 dwt Handymax bulker Theodore Veniamis, which was built by the Group’s Shin Kasado Dock for an as-of-yet undisclosed buyer. VesselsValue data cites the booking date to be January 2022.

The ship boasts a length of 199.98 meters, a width of 32.2 meters, a draft of 13.4 meters and a depth of 19.3 meters. The Panama-flagged Theodore Veniamis was reportedly outfitted with technology that satisfies various regulations for preventing air pollution under the MARPOL convention.

Furthermore—like the remainder of the newbuildings mentioned—it is said to possess a ballast water treatment system and an inventory list based on the Hong Kong Convention as environmental conservation measures.

These back-to-back deliveries reflect a noted trend within the dry bulk segment. A 2023 report from Intramodal presented a ‘steady’ ballooning image of bulker shipbuilding orders during that year.

That said, a new analysis has shown the bulk carrier market experiencing some tumultuous tides, marked by weaker demand and, at the same time, an increasing number of handovers planned for this year.

To be precise, Intermodal has highlighted that strong freight market conditions over the past few years have led to an increase in the average age of bulk carriers, which now stands at 12.5 years—the highest level recorded since January 2011.

Simultaneously, anticipated vessel deliveries will likely lead to fleet growth surpassing the estimated tonnage demand growth for 2025, particularly in the Handymax/Supramax segment which is projected to see the highest number of new handovers this year.

Imabari Shipbuilding has seen the skyrocketing number of bulker orders first-hand, having received a flurry of them in the past two years.

For example, in December 2023, MOL commissioned Imabari for the construction of two liquefied natural gas (LNG) dual-fueled Capesize bulkers. MOL also contracted Chinese shipbuilding heavyweight CSSC Qingdao Beihai Shipbuilding for another three. The ships are scheduled for delivery in 2027.

In May last year, shipping company NS United Kaiun Kaisha (NS United) signed a Memorandum of Understanding (MoU) with Nippon Shipyard (NSY), Imabari Shipbuilding, and Japan Marine United Corporation (JMU) for the building of a 300-meter-long methanol-powered bulk carrier, to be delivered in 2027 or later.

Data from VesselsValue shows that Imabari currently has 35 vessels within the dry bulk segment on order, of which 17 are Handymax, 15 are Supramax and three are Capesize.