Thai shipowner Precious Shipping has returned to Taizhou Sanfu Ship Engineering in China for four 63，500 dwt ultramax bulk carriers， which will deliver in 2026 and 2027. These contracts represent the third series of ships that Khalid Hashim-led Precious has built at Sanfu. No prices have been revealed for the series.

Recent ultramax newbuild deals in China have been sealed for around $34m per unit， fully $10m more than at the start of this decade.

“Bulker newbuilding values are currently at 15-year high， with increases across all sectors since the start of the year，” states a new report from VesselsValue， who suggested the price increases were down to strong market fundamentals and increased demand， high steel prices and shipyard costs.