The Singapore-based shipping company Pioneer Logistics is making significant strides into the bulk carrier market with its latest venture.
Pioneer’s dedicated bulk shipping division has placed an order for six ultramax vessels with Jiangsu Hantong Ship Heavy Industry, marking its initial foray into bulk carrier construction.
This move follows closely behind the deal by Pioneer Tanker, which committed to a minimum of seven 18,500 dwt chemical tankers from Fujian Southeast Shipyard, valued at $33 million each, with expected delivery in 2026.
Pioneer’s existing fleet includes 11 bulk carriers, comprising nine supramaxes, one capesize, and one newcastlemax, as listed on the company’s official website.
While the precise financial details and delivery timelines for the new 63,500 dwt ultramax ships remain under wraps, brokerage estimates suggest a market price of around $34 million per vessel for ultramax newbuilds in China.
