China’s Shanghai Dingheng Shipping is set to splash nearly $100m at Wuhu Xinlian Shipbuilding on an order for one 9,000-dwt and five 6,600-dwt stainless-steel chemical tankers.
A Wuhu Xinlian executive confirmed the deal, adding that the vessels will be equipped with direct electrical propulsion systems. The executive did not disclose the price.
Shanghai-based Dingheng was not available for comment.
The company is scheduled to take delivery of the ships from the end of 2021. It has tapped Jiangsu Financial Leasing to finance the newbuildings.
Shipbuilding experts estimate Dingheng will pay about $15.5m each for the 6,600-dwt stainless chemical tankers and almost $22m for the larger ship.
"The specifications of Dingheng's newbuildings are quite high," said a shipbuilding source.
Dingheng plans to control 100 stainless-steel chemical tankers of between 2,000 dwt and 15,000 dwt by 2028 through newbuilding orders, bareboat charters and resale acquisitions. It is expanding its fleet to provide better service for clients, as well as to improve the fleet's operational efficiency.
The outfit currently owns 25 vessels, according to its website.
VesselsValue lists Dingheng with three tankers under construction at two other Chinese shipyards for delivery this year. Two 9,000-dwt tankers are booked at Ningbo Xinle Shipbuilding and one 13,000-dwt vessel is being built by Nantong Tongbao Shipbuilding.
Dingheng's order is the second shipbuilding contract that Wuhu Xinlian has secured this year. Two weeks ago, the shipyard bagged an order of up to four 21,500-dwt dual-fuel bitumen carriers worth more than $120m from Continental Bitumen. The deal was for two firm vessels, with options for two additional ships.
Continental Bitumen was reported to be paying more than $30m each for the battery-equipped tankers that will be able to carry oil products and run on LNG.
Continental Bitumen is a unit of UK-based Colas Group. It is scheduled to take delivery of the bitumen carriers in 2023.
Wuhu Xinlian is owned as a joint venture of auto manufacturer Cherry Group and local government authorities.
