Kumiai Navigation is expanding its dry bulk fleet with an ultramax newbuilding order in China.

The Singapore-based subsidiary of Japan’s Kumiai Senpaku has contracted one 64，000 dwt unit at Nantong COSCO KHI Ship Engineering (NACKS) for around $35m.

The subsidiary of COSCO Shipping Heavy Industry is expected to deliver the vessel in the second quarter of 2028.

The shipowner currently lists a fleet of eight VLGCs， two small LPG carriers， and nine bulkers on its website. The company’s newbuilding pipeline now counts four ships， three of which are VLGCs delivering from Kawasaki Heavy Industries in 2025 through to the fourth quarter of 2026.

Multiple dry bulk owners have recently moved for ultramax newbuilds， including Jhonlin Marine Transport (JMT) of Indonesia with eight ships booked at Japan’s Oshima Shipyard and four units contracted by Singapore-based Adhart Shipping at New Dayang in China.