Precious Shipping, based in Bangkok, has continued its fleet-renewal strategy by acquiring two ultramax newbuilding resales, currently under construction at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC) in China. The vessels, scheduled for delivery in January 2026, will be incorporated into the company’s fleet through its wholly owned subsidiaries in Singapore.
The ships are believed to come from Singapore-based Jaldhi Overseas, which placed an order for four ultramax vessels at the yard in 2022. Precious Shipping is paying $37.25 million per vessel, part of a broader investment initiative that has accelerated since last year.
In 2024, the company returned to Taizhou Sanfu Ship Engineering for an additional set of 63,500 dwt ultramaxes, which are expected between 2026 and 2027. Beyond newbuilds, Precious Shipping has also been active in the secondhand market. Earlier this year, the company purchased two 66,000 dwt ultramaxes from Japan’s Don Kisen. These vessels, Jal Kalpavriksh and Jal Kalpataru, built in 2021, are now the youngest ships in the fleet and were also previously managed by Jaldhi.
At the same time, Precious Shipping is reducing its older tonnage. The company recently sold its 2010-built supramax Warisa Naree for $9.5 million, with delivery expected by December 20. This aligns with the company’s ongoing strategy to rejuvenate the fleet by selling older vessels and adding modern ones.
Once the two newbuild resales are delivered, alongside one vessel set for disposal and four newbuildings under construction, Precious Shipping’s fleet will consist of 46 vessels.
