SAIC Anji Logistics’ appetite for pure car/truck carrier newbuildings continues unabated as the volume of Chinese automobile exports grows.
The car carrier owner and operator, which already has five LNG dual-fuel PCTC newbuildings — two of 7,600 teu and three of 7,800 ceu —under construction at Jiangnan Shipyard, has launched a request for offers to build seven dual-fuel, 8,900-ceu vessels, which will be by far the largest PCTCs it owns.
SAIC Anji — the shipping arm of Chinese automaker SAIC Motor — is seeking to take delivery of at least one ship by October 2025 and the rest by 2026.
It is looking for a reputable shipyard that has delivered at least three car carriers of more than 3,000 ceu. The participating shipbuilders also need to have experience in constructing LNG or LPG dual-fuel vessels of more than 50,000 dwt and in delivering at least two LNG/LPG carriers.
SAIC Anji said it has already lined up the financing for these seven 8,900-ceu newbuildings.
Shipbuilding players following the car carrier newbuilding sector said Jiangnan Shipyard, Guangzhou Shipyard International and China Merchant Heavy Industry are among the yards in contact with SAIC Anji.
Sources estimate that the 8,900-ceu vessels will cost close to $100m each.
According to Clarksons’ Shipping Intelligence Network, SAIC Anji controls 18 vessels of between 246 ceu and 4,300 ceu.
In July, the Shanghai-based owner teamed up with Cosco Shipping Specialized Carriers and Shanghai International Port Group’s SIPG Logistics to create a car carrier company. Cosco owns 42.5%, SIPG Logistics holds a 37.5% stake and SAIC Anji has 20%.
The joint venture, which will focus on international trade, will be acquiring or chartering vessels controlled by Cosco Shipping, which currently owns five pure car carriers that were built between 1998 and 2011. It will also order newbuildings, acquire secondhand vessels and charter ships to meet demand.
The Chinese car export industry is going through rapid growth. The country exported 2.02m finished cars last year — double the volume of 2020 despite chip shortages and the pandemic.
China’s 2021 export volume also surpassed Germany’s and is now the second in the world after Japan.
According to the China Association of Automobile Manufacturers, the country sold 2.12m vehicles abroad between January and September — 56% more than in the same period last year.
Some analysts have forecast that China’s car exports might reach a record 3m by the end of this year.
SAIC Motor is not the only Chinese automaker that is building up its own fleet of car carriers. Rival BYD is also joining the red-hot sector. The Shenzhen company was reported to be in discussions with domestic shipyards for six to eight LNG-fuelled 7,700-ceu newbuildings.
BYD does not yet control any car carriers. It is buying space from operators such as Cosco Shipping Specialized Carriers.
