Union Maritime, led by Laurent Kadji, continues its rapid growth in the shipping industry by ordering nine new ships across five different classes. This move has made the company one of the fastest-growing order books in the industry, bringing the total number of ships in its fleet to nearly 80.
Details of the New Orders
The new orders include two Newcastle Max ships with a capacity of 211,000 tons, two MR product tankers with a capacity of 49,800 tons, one LR2 tanker with a capacity of 115,000 tons, two stainless steel chemical tankers with a capacity of 19,900 tons, and two cargo ships with a capacity of 40,000 tons. The Newcastle Max ships are scheduled for delivery in 2029, while the MR and LR2 tankers are set for delivery in 2027, the chemical tankers in 2028 and 2029, and the cargo ships in 2027 and 2029. The contract prices have not yet been disclosed.
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Fleet Expansion and Future Plans
These two Newcastle Max ships will bring Union Maritime's program in Wuhan, China, to six ships. The company's fleet list includes ships W2691 to W2696, all with a capacity of 211,000 tons and scheduled for delivery between 2028 and 2029. This program began earlier this year, with the company's first Newcastle Max order consisting of two firm ships and two options at approximately $76 million per ship. This move is recognized as the first step for the shipowner towards the Capesize Plus sector.
The recent increase in costs also reflects the rapid expansion of this London-based company beyond its traditional tanker base. Published data shows that Union Maritime's fleet as of September 1 includes 185 ships, comprising 106 operational ships and 79 new ships. Of the ships on order, 48 are being built in 10 Chinese shipyards, with deliveries planned by 2030.
This level of new orders compares to the 69 new ships that the company mentioned last August. At that time, 61 of these ships were under construction in China. Additionally, Union Maritime has entered the large gas carrier sector this year, linking up with two VLGC/VLAC ships with a capacity of 90,000 cubic meters at HD Hyundai Heavy Industries for approximately $234 million and two 88,000 cubic meter VLAC ships at Yangzijiang. Founded privately in 2006 by Kadji, the company has evolved from a single ship providing services to West African trades into a diverse fleet that includes tankers, cargo ships, gas carriers, and offshore vessels.
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