Hong Kong-listed Seacon Shipping has continued its tanker newbuilding drive with a fresh order in China.
The Chinese owner said it is paying $32.3m each for two 18,500-dwt chemical/product vessels due by the end of 2025 and the end of March 2026.
The builder is Fujian Southeast Shipbuilding Co.
The move aligns with the company’s goal of meeting market demand for its shipping services, Seacon said.
It forms part of Seacon’s broader strategy to optimise its fleet by gradually phasing out its older ships and replacing them with newer vessels, as well as to expand the number of tankers overall, the company explained.
“The continuing conflicts and disruption in oil-producing nations in the Middle East since October 2023 have prompted increased demand for oil transportation,” the company said.
“The management … is of the view that the market conditions supporting the demand for chemical products will improve, leading to a greater global demand for logistics services in relation to chemical products,” it added.
Seacon has just sold the 34,800-dwt tanker Golden Lavender (built 2022) to Union Maritime of the UK for $36m.
And it has been busy adding to its tanker orderbook this year.
Big newbuilding push
In March alone, the group spent $30.1m on an 18,500-dwt product oil/chemical carrier at Wuhu Shipyard for delivery before the end of 2025, bringing its total expenditure on nine tankers to $339m in a month.
In February, the company signed two separate orders for eight tankers in total.
The owner, which is based in Qingdao, contracted four 18,500-dwt IMO type 2/3 chemical tankers at Fujian Southeast at the same price as the latest pair.
This followed hot on the heels of its debut in MR tankers with an order for a quartet of vessels at Chengxi Shipyard.
That order was made with CSSC Shipping, the shipowning arm of China State Shipbuilding. The partners will take delivery of four 50,000-dwt product carriers for $45m apiece in 2025 and 2027.
Included in the company’s owned fleet are 21 bulkers: one capesize, six panamaxes, seven supramaxes and seven handysizes.
Its tanker arm has three handysize product carriers, four chemical tankers and one small asphalt/bitumen carrier.
