Singapore-based Wealth Holdings is stepping into the multipurpose vessel space with a sizeable, charter-backed newbuilding programme, lining up to eight 17,400-dwt MPPs with Danish operator DS Norden providing time-charter cover.
The deal covers four firm vessels with two plus two options, with Wealth Holdings Shipping acting as the ordering owner and capital provider. Commercial operation will sit with Norden, which will handle the trading and day-to-day employment of the ships under time-charter arrangements.
Construction has been placed at Jiangsu Haitong Shipyard in China. While pricing has not been disclosed, the structure of the deal is drawing attention in a tight project cargo market, where owners are increasingly pairing asset investment with long-term charter backing to secure earnings visibility.
Wealth Holdings’ order comes as contracting activity continues to build around similar designs across multiple size classes. The ships will follow a now-familiar MPP layout, with accommodation forward. The design is aimed squarely at project and energy-related cargoes, including wind components and large industrial units, where deck length, stowage flexibility and fast port turnaround have become key commercial drivers.
Wealth Holdings has so far kept a low profile in shipping, with Equasis listing the group with a single bulker. The MPP programme marks a shift toward higher-value, project-oriented trades, supported by Norden’s global commercial platform.
For Norden, the deal fits neatly with its expanding lease and charter-backed model. The Copenhagen-listed operator entered into more than 20 lease agreements with purchase options in 2025, around half of them in the multipurpose segment. Earlier this year, Norden also confirmed two additional MPP newbuilding leases with purchase options, due for delivery in 2028.
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