Newbuilding Projects
From initial concept to vessel delivery. $9B+ in newbuilding value brokered across four decades.
What We Do
Optima's Newbuilding desk manages the full lifecycle of vessel construction projects, from initial feasibility assessment through shipyard selection, contract negotiation, construction supervision, and final delivery. We act as our clients' representative at every stage, ensuring technical specifications are met, milestones are achieved on schedule, and costs remain under control.
Our long-standing relationships with shipyards across South Korea, Japan, China, Turkey, and Europe give our clients access to competitive pricing, priority berth allocation, and proven build quality. We evaluate yards based on their track record with specific vessel types, financial stability, and current order book capacity.
Every newbuilding project is unique. Whether you are ordering a series of eco-design bulk carriers, a specialized chemical tanker, or a next-generation LNG carrier, our team provides independent technical and commercial guidance tailored to your fleet strategy.
Every newbuild begins on a clean white page.
Key Capabilities
TECHNICAL SPECIFICATION DEVELOPMENT
Collaborative development of vessel specifications aligned with operational needs, regulatory requirements, and fuel efficiency targets.
SHIPYARD SELECTION
Evaluation and shortlisting of yards based on vessel type experience, pricing, berth availability, and financial standing.
CONTRACT NEGOTIATION
Negotiation of shipbuilding contracts, refund guarantees, payment terms, and specification annexes to protect our client's interests.
CONSTRUCTION SUPERVISION
On-site supervision at key construction milestones including steel cutting, keel laying, launching, and sea trials.
MILESTONE PAYMENT COORDINATION
Management of stage payments tied to construction progress. Independent verification that milestone conditions are satisfied before funds are released.
CLASSIFICATION & FLAG ADVISORY
Guidance on classification society selection, flag state registration, and statutory certification required for vessel delivery and operation.
Construction supervised, not witnessed from afar.
Track Record
Four decades of yard time, on every class record.
From Concept to Delivery
FEASIBILITY & DESIGN BRIEF
Define vessel requirements, operational profile, and budget parameters. Assess market conditions and compare newbuild economics against secondhand acquisition.
YARD CANVASSING
Issue enquiries to pre-qualified shipyards. Collect and compare quotations on price, delivery schedule, specification compliance, and financing terms.
YARD EVALUATION & SELECTION
Shortlist yards based on commercial terms, technical capability, and track record. Arrange yard visits where required.
CONTRACT NEGOTIATION
Negotiate the shipbuilding contract, refund guarantee structure, specification annexes, and maker's list. Ensure client interests are protected across all commercial and technical terms.
STEEL CUTTING & EARLY CONSTRUCTION
Monitor early construction phases. Review steel cutting, block assembly, and material procurement against the approved specification.
ONGOING SUPERVISION
Attend scheduled milestones including keel laying, hull erection, and outfitting. Report progress to the client and flag any deviations from specification or schedule.
SEA TRIALS & DELIVERY PREPARATION
Attend and supervise sea trials. Verify performance parameters including speed, fuel consumption, and equipment function. Coordinate flag state inspection and classification surveys.
DELIVERY & HANDOVER
Manage the delivery protocol including document exchange, title transfer, insurance activation, and crew embarkation. Confirm vessel is delivered in full compliance with contractual specifications.
The first time a new hull meets the sea.
Long-standing access, to every serious yard.
Frequently Asked Questions
How long does a typical newbuilding project take from contract to delivery?
Construction timelines depend on vessel type and yard capacity. A standard bulk carrier typically takes 18 to 24 months from contract signing to delivery. Larger or more complex vessels such as LNG carriers or specialized tankers can take 30 to 36 months. We provide detailed timeline estimates during the feasibility phase.
How does Optima select which shipyard to recommend?
We evaluate yards based on their track record with the specific vessel type, current order book and berth availability, financial stability, pricing competitiveness, and geographic considerations. We present a shortlist with a comparative analysis so our clients can make an informed decision.
What role does Optima play during construction?
We act as the owner's representative at the shipyard. Our team attends key milestones, reviews construction progress, verifies specification compliance, and reports back to the client. We flag any deviations early so they can be addressed before they affect schedule or cost.
Can Optima help with financing a newbuilding order?
Yes. Our Shipping Finance desk works closely with the Newbuilding team to structure financing arrangements, including pre-delivery financing, export credit agency (ECA) facilities, and leasing structures. We coordinate with lenders throughout the project.
Does Optima handle resale of newbuilding contracts?
We do. If market conditions change or a client's strategy evolves, we can market and negotiate the resale of newbuilding contracts to qualified buyers. This includes managing the assignment of the shipbuilding contract and associated refund guarantees.
Planning a Newbuilding Project?
From a single vessel to a fleet program, our Newbuilding desk is ready to advise.
Contact Our Newbuilding Desk