Thailand’s Precious Shipping is pushing ahead with its fleet-renewal drive after agreeing to buy two ultramax newbuilding resales under construction in China.

The Bangkok-listed owner said the vessels — being built at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC) — will join the fleet through its wholly owned Singapore subsidiaries. The ships are understood to come from Singapore-based Jaldhi Overseas， which ordered four ultramaxes at the yard in 2022. Delivery of the pair is slated for January 2026.

Precious is paying $37.25m per vessel， extending an investment push that has gathered pace since last year. In 2024， the owner returned to Taizhou Sanfu Ship Engineering for four 63，500 dwt ultramaxes due between 2026 and 2027.

The company has also been active in the secondhand market. Earlier this year， it bought two Japanese-built 66，000 dwt ultramaxes — Jal Kalpavriksh and Jal Kalpataru — from Japan’s Don Kisen， at around $33m each. The 2021-built pair are now the youngest vessels in Precious Shipping’s fleet and were also previously managed by Jaldhi.

At the same time， the owner is trimming older tonnage. Precious recently sold the 2010-built supramax Warisa Naree for $9.5m， with delivery expected by December 20.

The Khalid Hashim-led company said the transactions are part of its long-stated plan to rejuvenate the fleet by selling ageing ships and adding modern vessels. Once the two newbuild resales deliver — alongside one pending disposal and four yet-to-deliver newbuildings — the company’s fleet will stand at 46 vessels.