Celsius Shipping of Denmark is expanding its MR tanker fleet by picking up newbuildings.
It has bought two 50,000-dwt product carriers that are under construction at Yangzijiang Shipbuilding.
Shipping sources said Celsius acquired the resale newbuildings from Yangzijiang Shipping, the shipping arm of the Singapore-listed shipbuilder.
The diversified shipping company is said to have paid $31.5m each and is due to take delivery in June and July this year.
Chairman Jeppe Jensen confirmed the acquisition and said he was impressed with the craftsmanship and the vessels' high specification.
The MR tankers were part of a four-ship order that Yangzijiang Shipping contracted at the shipyard in 2019.
The contract was Yangzijiang Shipbuilding’s first MR tanker deal. The yard had teamed up with Shanghai Merchant Ship Design & Research Institute to design the vessels.
Yangzijiang Shipping ordered the newbuildings to boost Yangzijiang Shipbuilding’s experience in building tankers. The Jiangsu shipbuilder, which is China’s largest privately owned yard, is widely known for constructing bulkers and containerships.
Shipping sources said there is a possibility that Celsius may buy the other two MR tankers — to be named Yangze 18 and Yangze 19 — from Yangzijiang Shipping.
“The sales discussions for these two tankers are still going on,” said a shipbuilding source. The duo is due for delivery next month.
Yangzijiang Shipbuilding has been trying to step up its presence in the tanker sector for some time. In 2017, it acquired a half-built suezmax from Chinese shipbuilder Jiangsu Rongsheng Heavy Industries for $10m. It completed building the 156,200-dwt Aura M last year.
Shipbuilding sources said the shipyard spent less than $40m building the tanker and sold it to Germany’s Hammonia Reederei for a price in the high-$50m range.
Clarkson’s Shipping Intelligence Network lists Celsius with a fleet of 44 vessels on the water, of which nine are MR tankers.
