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.

Core broking · Contract to delivery

The newbuilding, from order to delivery.

Discuss a Newbuilding Project View Our Process

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Cream paper bulk carrier general arrangement plan unrolled across a brushed-steel drafting table, brass parallel ruler and dividers laid alongside

Optima · Newbuilding desk

The first line drawn

Every newbuild begins on a clean white page.

01 Concept · Athens desk

What we do.

The Newbuilding, from Order to Delivery

Optima manages newbuilding projects from initial feasibility through contract negotiation, construction supervision, and final delivery. Successful projects are defined long before steel cutting begins, through disciplined yard selection, commercially sound specifications, and alignment between the owner's operational ambitions and the yard's demonstrated capabilities.

The desk works closely with both owners and builders from the earliest technical discussions onward, overseeing specification development, contract structure, build supervision, variation management, and delivery readiness throughout the life of the project.

Our experience spans major shipbuilding centres across Korea, Japan, China, Turkey, and Europe, combining technical understanding of vessel construction with practical knowledge of yard capacity, build quality, production culture, and contractual performance. Complex projects depend as much on judgement and communication as they do on engineering, and both remain central to successful execution.

How we run a build, in six moves.

Key Capabilities

Six disciplines, one desk. Each capability is a mandate we have repeated across every major newbuilding programme, every cycle.

01 Owner-led specs

Technical specification, end to end.

A successful newbuilding programmeme depends on more than technical specification or headline pricing. Yard workload, design platform maturity, production capability, financing strength, management culture, and the owner's operational profile all influence whether a project advances efficiently or becomes operationally strained during construction. Experience across multiple market cycles provides a clear understanding of which combinations consistently perform, and where execution risks typically emerge.

02 Pre-qualified yards

Shipyard selection, with receipts.

The contract value is determined far beyond the base price. Particular focus is placed on makers' lists, optional equipment, payment structures, liquidated damages provisions, specification tolerances, performance warranties, and refund guarantee security. Negotiations are conducted with equal attention to contractual protection, technical practicality, and the long-term working relationship required between owner and builder throughout construction.

03 Refund-guarantee grade

Contracts written to protect the owner.

During the build phase, the desk coordinates closely with owners, site supervision teams, yards, and technical representatives to maintain continuity between the contractual framework and day-to-day execution. Specification revisions, production delays, equipment substitutions, subcontractor performance, milestone disputes, and commissioning matters are managed proactively to minimise disruption and preserve delivery integrity.

04 On-site presence

Construction, supervised not witnessed.

A newbuilding project rarely ends at delivery. Ongoing support often extends into warranty matters, operational follow-up, resale strategy, fleet expansion planning, and subsequent sister-vessel programmes. Long-standing relationships with both owners and shipyards remain central to the business, with many partnerships developed and maintained across multiple market cycles and generations of fleet development.

In yard time, every cycle.

Track Record

All Major vessel segments

100+ Shipyard network

From concept to delivery.

Behind the NB Order, from Concept to Delivery

Every successful newbuilding programmeme begins with commercial discipline. Before technical discussions commence, the project is evaluated against secondhand asset values, projected earnings, replacement economics, regulatory developments, and anticipated market conditions at the intended delivery window. Capacity deployment, financing conditions, and fleet strategy are assessed early to determine whether the project is commercially justified before approaching the market.

Once the operational and technical brief is established, discussions are directed toward shipyards whose orderbook position, construction capability, design platform, and delivery availability align with the project requirements. Engagement is selective rather than broad-based, focusing on yards where realistic pricing, suitable production slots, and proven execution capability are already understood.

Initial quotations often conceal material differences beneath comparable headline pricing. Technical specification, makers' lists, steel weight assumptions, payment schedules, financing exposure, and refund guarantee quality can materially alter the value and risk profile of the project. Comparative evaluation is standardised across all offers to allow true like-for-like assessment, supported where necessary by direct yard visits and senior management discussions.

The shipbuilding contract ultimately defines both the commercial outcome and the operational framework of the project. Negotiations extend beyond price into specification integrity, optional equipment, milestone structure, liquidated damages, permissible tolerances, warranty obligations, and refund guarantee security. The objective is to secure contractual clarity while preserving a constructive working relationship throughout the build cycle.

Steel cutting marks the transition from contractual project to physical asset. During the early construction stages, close coordination is maintained between the owner's representatives, site supervision teams, and yard management to verify specification compliance, production sequencing, and schedule integrity. Early-stage oversight remains critical, as construction deviations become significantly more complex and costly to resolve later in the build programme.

Throughout construction, effective delivery depends as much on communication and coordination as on the contract itself. Specification amendments, equipment substitutions, subcontractor performance, production delays, and milestone disputes are addressed continuously through direct engagement with all parties involved. Maintaining alignment between owner expectations, technical realities, and yard execution is essential to preserving delivery quality and schedule reliability.

Sea trials represent the vessel's operational verification against the contractual specification. Speed performance, fuel consumption, machinery operation, automation systems, and onboard equipment are tested in coordination with the owner's site team, classification society, and flag representatives. Any deficiencies or deviations identified during trials are formally documented and resolved prior to acceptance wherever possible.

Delivery concludes the construction phase but not the relationship surrounding the asset. Documentation, protocol of delivery and acceptance, title transfer, payment release, registration, and flag transition are coordinated in sequence alongside legal and technical advisers on both sides. Post-delivery support continues through warranty matters, operational follow-up, resale considerations, and future fleet development, maintaining continuity well beyond handover.

The yard network.

The Shipyard Network

Long-standing relationships across the principal shipbuilding centres responsible for the majority of the world's commercial tonnage. Experience built through decades of completed projects across Korea, Japan, China, Turkey, and Europe provides direct understanding of yard capability, construction standards, delivery performance, and long-term reliability.

Yard selection is approached as a strategic decision tied to the vessel's intended employment, technical profile, operational priorities, and lifecycle economics. Owners are matched to the yard best suited to execute the project, not to available capacity or short-term orderbook pressure.

Frequently asked.

Questions we answer, on every newbuilding pitch.

01 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.
02 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.
03 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.
04 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.
05 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.

Let's begin the build.

Planning a Newbuilding Project?

From a single vessel to a fleet programme, our Newbuilding desk is ready to advise.

Contact Our Newbuilding Desk Or call the Athens desk