John Fredriksen-backed Seatankers Management has moved ahead with a major expansion of its newcastlemax programme in China， exercising options for four additional bulk carriers at emerging shipbuilder Dajin Heavy Industry.

The latest declarations take Seatankers’ orderbook at the yard to eight 210，000 dwt newbuilds， following an initial contract for four ships placed earlier this year.

Brokers estimate the vessels are priced at around $73.5m each， putting the value of the latest quartet at close to $300m and the total programme at nearly $600m for the Cyprus-based outfit.

The ships are being built at Panjin Dajin Offshore Engineering， a subsidiary of Dajin Heavy Industry， with deliveries expected between 2028 and 2029.

The move further establishes Dajin as a new entrant in the large dry bulk construction market. The Chinese group has historically been known for offshore wind structures， heavy transport vessels and specialised marine equipment rather than mainstream bulk carrier construction.

The yard first emerged on dry bulk owners’ radar after securing newcastlemax orders from Greek owner Danaos Corporation， with fellow owner Cape Shipping also recently linked to similar newbuilds at the yard.

The ordering spree comes as established Chinese bulk carrier builders continue to see strong demand and rising slot prices， prompting owners to look beyond traditional shipyards for delivery positions later in the decade. Industry observers have increasingly linked the recent wave of large bulker contracting to expectations surrounding Guinea’s giant Simandou iron ore project， which is expected to generate significant tonne-mile demand once exports ramp up.

The latest Seatankers declaration follows a broader resurgence in newcastlemax ordering activity， with owners including Danaos， Seanergy， Chinese Maritime Transport， Reederei Nord， Pan Ocean and Seacon Shipping all committing to the segment in recent months.