Egypt’s National Navigation Company busy bolstering bulker fleet

Egypt’s National Navigation Company (NNC)  is linked to its second deal in a month. The owner is noted purchasing the Chinese-owned Gia Ambition, an 85,000 dwt bulk carrier built in China two years ago, tabling around $39m for the ship. 

The move comes only a month after the Cairo-based owner ordered two similar sized bulkers at Jiangsu Hantong Ship Heavy Industry with delivery in 2026. 

NNC’s last move in the secondhand market was in November when it grabbed a newbuilding from Croatia’s Atlantska Plovidba, which is now on the slipway and named Wadi Alarish (pictured). NCC paid $35m for this ship, which is built at the same yard as its newly ordered vessels. NCC owns a fleet of 14 bulkers, all under the Egyptian flag.