CTM in deal to manage United Marine Egypt bulker newbuild

United Marine Egypt (UME) has partnered up with Monaco-based dry bulk pool giant C Transport Maritime (CTM), paving the way for the construction of a new bulk carrier. 

The Cairo-based roro operator, which was earlier this year linked to a pair of ultramax newbuilds at New Dayang, has inked a technical and commercial agreement with CTM.

No further details about the vessel were revealed but UME, which is listed on the ship register Equasis with four roros and charters bulkers, said the deal covers the shipbuilding process and close supervision “to ensure the highest standards are met”.

Shipbuilding sources in May highlighted UME’s entry into bulker ownership in a deal worth about $70m with Crown 63plus 64,000 dwt vessels set for delivery in 2027.

CTM, which currently manages a fleet of over 110 bulkers under commercial and technical management, ranging from handysize to newcastlemax vessels, recently welcomed the 63,500 dwt newbuild ultramax Aquadonna (pictured) from Japan’s Nissen Kaiun into its supramax RSA pool.