Dajin books 24 newbuildings and builds a heavy transport fleet of its own
An offshore wind fabricator has moved into Newcastlemax bulkers, deck carriers and ocean transport in one year
Dajin Heavy Industry has accumulated orders for 24 newbuildings with a total contract value of approximately 12 billion yuan, around 1.7 billion US dollars, for delivery between 2027 and 2030. The book covers 211,000 deadweight tonne Newcastlemax bulk carriers, deck carriers, non-propelled semi-submersible barges and multipurpose heavy-lift vessels.
The company entered commercial shipbuilding this year. It was confirmed as the builder behind a pair of 211,000 dwt Newcastlemaxes ordered by Danaos, with further business subsequently linked to Seatankers and Cape Shipping, and an order from Jumbo Maritime for multipurpose heavy-lift vessels extending the yard beyond conventional bulkers. By early June the Newcastlemax tally alone was put at 14 hulls on publicly available market information.
The industrial route into large bulkers is a short one from where the company started. A 211,000 dwt bulker is a steel-intensive ship needing thick-plate processing, block construction, heavy lifting, large assembly areas and deepwater quay access, all of which Dajin has spent years building for offshore wind monopiles, towers and jackets. Systems integration complexity is far lower than for LNG carriers or cruise ships.
The first-half figures give the expansion its funding. Revenue reached 3.253 billion yuan, up 14.48% year on year, with net profit attributable to shareholders of 601 million yuan. Gross profit rose more than 50% to roughly 1.221 billion yuan and the overall gross margin climbed from 28.2% to 37.5%, with the export margin at 39.4%. Overseas markets now account for 82.25% of revenue at 2.675 billion yuan. Operating cash flow rose 544.06% to 1.533 billion yuan, cash and equivalents went from 2.856 billion yuan at the end of 2025 to 8.085 billion at the end of June, and gearing fell from 42.9% to 33.5%.
Alongside the third-party orderbook, Dajin is building ships for itself. The KING series measures 239.8 by 51 metres with about 12,000 square metres of deck, roughly 40,000 tonnes deadweight, a service speed near 13 knots and a range of about 16,000 nautical miles. KING ONE has completed two transatlantic voyages with offshore wind foundations, KING TWO has been delivered and KING THREE has been launched for delivery this month. The larger EMPEROR series will run to about 245 by 61 metres, 13,500 square metres of deck and roughly 60,000 tonnes deadweight, sized for floating wind foundations and large oil and gas modules.
The shore end has moved with it. A new deepwater base at Caofeidian covering some 87 hectares entered operation in the first half, designed for 400,000 tonnes a year of monopiles, jackets and floating foundations for 15 to 25 MW turbines, with a terminal able to take 100,000 dwt ships. Four offshore wind marshalling ports are being developed in Germany, Spain and Denmark, giving the company discharge and storage capacity at the European end of its own voyages.
The delivery record is what will settle it. Danaos, Seatankers and Jumbo are experienced owners with firm expectations on build quality, delivery dates and operating economics, and the first Newcastlemax handovers will decide whether repeat business follows.
This story is part of the Maritime Briefing of 11 September 2026.
