Zodiac Maritime has added two more 7,000-ceu pure car/truck carrier newbuildings at CIMC Raffles Offshore Engineering in China, lifting the orderbook for the ship type there to 10.
Industry sources said the Eyal Ofer-controlled owner will be taking delivery of the latest two LNG dual-fuel ships from the fourth quarter of 2024.
Zodiac is said to be paying between $90m and $95m each.
The design was developed by Shanghai Merchant Ship Design & Research Institute, but Zodiac has upgraded the vessels with energy-saving devices and by increasing ramp strength to 250 tonnes to maximise high and heavy cargo-carrying capacity.
They will also be capable of running on alternative maritime power, also known as cold ironing, which reduces air pollution by using electric shore power while the ship is alongside.
Zodiac is said to be the only company installing larger conventional tanks on the LNG dual-fuel PCTCs, allowing the ships to burn very low-sulphur fuel oil.
Shipbuilding sources said Zodiac’s latest two newbuildings are not optional vessels but a fresh order with early delivery slots starting in the fourth quarter of 2024. The shipowner is said to be holding a number of optional vessels at CIMC Raffles.
“Zodiac has consistently demonstrated a disciplined approach to ordering [newbuildings] and we understand that this additional speculative order comes on the back of the company having fixed the large majority of the previously ordered PCTCs on long-term TC [time charters] to large car manufacturers,” one source said.
Zodiac is said to have fixed six to eight of the PCTC newbuildings that are being built at CIMC Raffles to some of the largest car manufacturers in the world, including SAIC AnJi, BYD and unnamed Western companies.
“Direct time charters from car manufacturers is a relatively new trend in the market,” the source said.
“In particular the green credentials of dual-fuelled vessels are proving very popular with [vehicle manufacturers] due to increasing pressure of Scope 3 GHG reporting. This has translated in virtually all PCTC newbuildings due to deliver up to Q3 2024 now being fixed, with ongoing commercial discussion already in place for vessels delivering in 2025.”
Zodiac owns a diverse fleet of 149 vessels including 13 PCTCs built between 1994 and 2018, according to Clarksons. It also has 26 newbuildings on order, including the PCTCs.
