Longxue Shipbuilding wins orders for two oil tankers

2013-08-13 09:00

Guangzhou Longxue Shipbuilding Co., Ltd. recently privately signed a contract with Hong Kong Wanli Shipping Co., Ltd. for the construction of two 115,000 DWT oil tankers. The new vessels are expected to be delivered in the fourth quarter of 2015. Industry estimates put the price of each vessel between US$47 million and US$48 million.

However, senior management at Hong Kong Wanli Shipping Co., Ltd. stated, "We are still studying this and have not formally signed a contract." A shipbroker commented, "Wanli Shipping signed a letter of intent some time ago, but it is unclear whether the contract has officially taken effect."

Insiders say this is Wanli Shipping's first order for LR2 tankers in nearly a decade. It is understood that Wanli Shipping currently operates 10 aframax tankers for crude oil transport.

Wanli Shipping previously ordered 50,000 DWT product tankers from Guangzhou Shipyard International. One vessel is still under construction and has been named "Seaclipper"; it is expected to be delivered this year.