6 vessels for $1.9 billion! Chang Hong International receives another order for product tankers from a Greek shipowner

2024-10-29 09:00

Recently, Zhoushan Changhong International Shipyard Co., Ltd. again secured an order for product tankers from Greek shipowner Horizon Tankers.

According to TradeWinds, Horizon Tankers confirmed exercising an optional order with Changhong International, adding two 50,000 DWT MR chemical/product tankers. Including the latest order, the company has now ordered six vessels of the same type from Changhong International, with new vessels scheduled for delivery in stages from the second half of 2026 to 2027.

Changhong International initially announced in May this year that it had signed a contract with Horizon Tankers for the construction of 4+1+1 MR-type vessels, but the ship price was not disclosed by Changhong International at that time. However, according to foreign media reports, each new vessel in this batch costs slightly more than $45 million, making the total value for all six vessels approximately $270 million (about RMB 1.923 billion).

For reference, Clarkson's data shows that the newbuild price for a 47,000-51,000 DWT MR product tanker is currently $52 million, an 11% increase compared to $47 million in the same period last year.

It is understood that this 50,000 DWT chemical/oil tanker type was independently developed and designed by Shanghai Ship Research and Design Institute (SDARI) and possesses complete intellectual property rights. The vessel has an overall length of 182.75 meters, a molded breadth of 32.20 meters, a molded depth of 19.10 meters, a design draft of 11.00 meters, a design speed of up to 14.5 knots, and uses a MAN 6G50ME-C9.6-HPSCR TIER III main engine. The ship's design not only boasts excellent energy-saving and environmental protection performance but also fully considers its comprehensive performance throughout its entire lifecycle, complying with the stringent emission standards of the International Maritime Organization (IMO).

Horizon Tankers, established in 2007, is an "old client" of Changhong International. The two parties have previously cooperated multiple times in the ship repair sector, and this year's new order marks the first signing between the two companies in the newbuild sector.

Excluding the latest two orders, Clarkson's data shows that Changhong International currently holds orders totaling 69 vessels with 8.35 million DWT, including 35 oil tankers and 34 container ships, with deliveries scheduled until 2029.

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