State-owned Guangzhou Shipyard International (GSI) has struck pure car/truck carrier (PCTC) newbuilding contracts with two Asian companies.
Chinese domestic electric vehicle (EV) maker BYD and South Korea’s H-Line Shipping have each ordered two LNG dual-fuelled PCTCs.
BYD is said to have booked 7,000-ceu ships, while H-Line has opted for larger vessels of 8,600-teu.
Newbuilding sources said BYD and H-Line’s PCTC newbuilding contracts were inked last year but the deals have only recently turned effective.
A newcomer to shipowning, BYD is said to be paying between $90m and $93m for each vessel. It is due to take delivery of the duo in 2025.
H-Line’s latest order takes its tally of PCTCs on order at GSI to seven consisting of four 7,000-ceu ships and three 8,600-ceu ships.
H-Line is said to have ordered the newbuildings against long-term charter contracts from South Korea’s Hyundai Glovis.
The details of the charter contract were not disclosed but sources believe the charter period is for more than 10 years. Delivery of the seven newbuildings is set for between 2024 and 2025.
GSI now has a total of 19 LNG dual-fuelled PCTCs on its orderbook including the latest orders from H-Line and BYD.
John Fredriksen-backed SFL Corp is building four 7,000-ceu PCTCs at GSI. They were ordered in 2021 at a reported price of around $77.5m per ship.
SFL has already found employment for the PCTC newbuildings with carmaker Volkswagen and Japan’s K Line taking two ships each on 10-year charters.
The SFL newbuildings helped GSI enter the car carrier segment. The shipyard is best known for building tankers and ro-ros.
GSI is also constructing six 7,000-ceu PCTCs for Cosco Shipping Specialised Carriers to be delivered in 2024 and 2025.