Seaspan Corporation is entering the Newcastlemax dry bulk market with an order for two 210,000-dwt tri-fuel ore carriers to be built at Yangzijiang Shipbuilding, with delivery scheduled for 2030. Seaspan confirmed it will own the vessels, marking a further step in the company's diversification beyond containerships. The ships will be chartered to Mitsui O.S.K. Lines, whose Singapore-based subsidiary MOL Ocean Bulk has signed a 25-year iron ore transportation agreement with Vale International. The vessels will primarily carry Brazilian iron ore to China and other destinations, and will be capable of running on ethanol, methanol or conventional heavy fuel oil, with designs allowing for future conversion to LNG or ammonia. Under the arrangement, Seaspan supplies the vessel assets, MOL provides the transportation service, and Vale commits the long-term cargo volumes. The disclosed 25-year term applies to the MOL-Vale transportation agreement; terms of the Seaspan-MOL charter have not been announced. The Newcastlemax order extends a broader diversification programme at Seaspan, which already includes six 10,800-CEU LNG dual-fuel car carriers, with the first vessel chartered long-term to Hyundai Glovis; four 65,400-dwt open-hatch gantry crane vessels bareboat chartered to Gearbulk for deployment in the G2 Ocean pool; and five 100,000-cbm very large ethane carriers. Across these projects, Seaspan has maintained a consistent investment approach, committing capital against long-term customer demand and contracted employment while partnering with established operators to access specialist expertise and cargo networks in each new segment.