Preciouus Shipping Announces The signing of 4 shipbuilding contracts for 4 new Ultramax bulk carriers

Precious Shipping Public Company Limited has recently signed four shipbuilding contracts for four new 64,500 DWT bulk carriers, manufactured by Taizhou Sanfu Ship Engineering Co., Ltd. These contracts were signed on September 30, 2026, and are in line with the company's strategy to modernize its fleet with more fuel-efficient vessels.

The Vessels will incorporate various improvements, such as increased deadweight capacity, upgraded propulsion systems, shaft generators, improved hull designs, and other energy-saving measures, which are expected to enhance fuel efficiency, reduce emissions, and boost the long-term operating performance and competitiveness of the Vessels.

The total contract price for each Vessel is $35.45 million, with the aggregate Contract Price of the four Vessels amounting to $141.80 million, or approximately THB 4,767.32 million. The payments for each Vessel are structured into five instalments, with the first 25% due five banking days after the Buyer receives a Refund Guarantee, and subsequent instalments due five banking days after specific milestones, such as cutting steel, keel laying, and launch. The fifth and final instalment of 40% is due concurrently with the delivery of the Vessel.

The Seller is an independent company incorporated in the People's Republic of China, with no relationship to Precious Shipping. The contracts' pricing and delivery schedules are considered highly competitive in the current market conditions. The Company plans to fund the Vessels through its internal cash reserves and debt financing from financial institutions.