Norvic Shipping charters in newbuild ultramaxWritten by Nick Blenkey
Dry bulk operator Norvic Shipping has entered a long-term period-charter for a newbuild 64,000 dwt ultramax. The charter deal was signed in Norvic’s New York City office with Japanese shipowner Fujimaru Kaiun, represented by its president, Jiro Nishikawa. Norvic was represented by group CEO AJ Rahman and COO and global head of chartering Michael Fenger..
The new 64,000 dwt ultramax, to be named Norvic Copenhagen, will transport dry cargo for customers around the world following its delivery from Imabari Shipyard, Japan, in second quarter 2023.
“Norvic has decided to take newbuilding’s into our fleet of 125 vessels in response to our growing business and to meet our commitment to new environmental regulations such as the IMO’s Carbon Intensity Indicator (CII),” said Rahman.
Chartering more newbuilds from Japan on five- to eight-year terms is part of Norvic’s planning. The company also aims to expand its fleet and diversify its service offering with the expected delivery of two additional Japanese handymax vessels on long-term charters by the end of 2023.
“Having rapidly established Norvic Shipping as a leading international dry bulk operator, we’re now focused on deepening our existing capabilities by building our own fleet, providing new services and further extending the company’s global reach,” Rahman added.
Norvic Shipping recently secured a $42.5 million working capital credit facility to finance its growing physical presence in key markets.