Xiamen ITG Shipping Co., Ltd., a subsidiary of ITG Holding, has confirmed that its 15,200 DWT multipurpose vessel construction contract with German shipowner Von Nordic Marine is now effective.

The project follows a “2+2+2” structure:
4 firm vessels + 2 options.

The first vessel is expected to start construction at Qinshi Jiamei Shipyard in March 2027.

For ITG Shipping, this is more than a shipbuilding contract.

The company says the project marks a breakthrough in its self-operated newbuilding order model. Its team independently handled shipowner development, commercial negotiations, contract signing, foreign exchange guarantee arrangements, progress payment collection, shipyard placement, technical coordination and full-cycle project management.

This means ITG Shipping is moving from a trade service role toward a more integrated position as a shipbuilding project organiser and full-lifecycle project manager.

The timing is also notable.

The multipurpose and breakbulk vessel market is seeing renewed ordering activity, driven by ageing tonnage, demand for project cargo and industrial equipment transport, and a growing need for modern, flexible, cargo-specific vessels.

The 15,200 DWT segment is attracting attention because it offers strong port adaptability and cargo flexibility for regional trades, project cargoes, breakbulk, steel products, forest products and industrial machinery.

For Chinese shipbuilding and supply chain companies, this project also shows a broader trend: more specialised vessel projects are being organised through a combination of overseas shipowner demand, Chinese shipyard capacity and integrated project management capability.