Ultramax Fleet to Triple in Size

By MarEx 2014-02-27 14:44:00

The number of newbuilding ultramax bulk carriers (61,000 – 72,999dwt) to be delivered in the next four years will increase the current fleet by over 200 per cent. There are currently 141 vessels in the fleet with 323 to be delivered.

With an average age of only two years, VesselsValue.com values the live ultramax fleet at $4,365 million, while the newbuild market value comes in at $9,717 million.

Top of the list of current owners is Setaf-Saget of France. In 2012, the total cargo volume carried by the company exceeded 15 MT consisting mainly of coal (including coke and petcoke) and cement materials, followed by ores and grains. 

One of the most recent ultramax deliveries was made to Star Bulk Carriers. The company took delivery of Star Fighter in January 2014. Star Fighter (formerly Supra Challenger II), is an ultramax bulk carrier of 61,462dwt carrying capacity, built in Japan by Imabari Shipbuilding Group in September of 2013. The vessel has been employed on a short-term time charter at a gross hire rate of $13,400 per day. Star Fighter is the second of two modern ultramax bulk carriers delivered to the company since November 2013.