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Shares of Dajin Heavy Industry surged following news that the Chinese company, known for offshore wind turbine foundations, has secured orders for eight large bulk carriers, each with a deadweight tonnage of 210,000. The orders are valued at approximately USD 591 million and come from two European clients, marking the company’s first foray into the continent’s maritime shipping industry.
As of mid-morning trading in Shenzhen, the company’s stock rose 4.5%, reaching CNY 89.04 (around USD 13.04) per share. The vessels will be manufactured by a subsidiary, with one contract valued at around USD 294 million and the other at USD 297 million. Delivery is expected between 2028 and 2029.
One client is a Norwegian firm engaged in fleet operations, investments in new vessels, trading second-hand ships, long-term leasing, and offshore engineering development. The second is a Greek company managing a sizable modern container fleet under long-term charter arrangements as well as a Capesize dry bulk carrier leasing business.
According to the company, these new orders are a sign of increasing international confidence in its shipbuilding expertise and are expected to enhance future performance prospects.
Initially focused solely on offshore wind power equipment manufacturing, the company entered shipbuilding after commissioning its Panjin facility in 2023. Last year, it signed contracts with South Korean and Norwegian clients for a heavy-duty deck carrier designed for offshore wind projects and a semi-submersible barge for offshore energy initiatives, respectively. Notably, this marked its first collaboration with a European partner in shipbuilding.
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