Dalian Cosco KHI Ship Engineering (Dacks) has become the latest shipyard in China to join the MR tanker segment.
The Sino-Japanese shipyard has struck a deal with Taiping & Sinopec Financial Leasing (TSFL) for two 50,000-dwt product carriers.
The Chinese leasing house disclosed that the pair of fuel-efficient MR tanker newbuildings will help to ensure the stability of Sinopec Fuel Oil Company’s overseas oil transportation supply chain.
They will also cover the transportation of Sinopec Group’s refined oil business in Sri Lanka.
Shipbuilding sources said Shangdong Shipping Tanker, the tanker arm of Shandong Shipping, will charter the two vessels.
TSFL is said to be paying around $45m each for product tankers. The vessels are scheduled to be delivered in 2027.
Dacks is a joint venture between China Cosco Shipping and Japanese shipbuilder Kawasaki Heavy Industries.
The Dalian-based shipyard was established in 2007 during the last market peak.
Equipped with two dry docks, Dacks has delivered 125 vessels, including VLCCs, very large ore carriers, mega-size container ships and mid-size bulkers.
Clarksons’ Shipping Intelligence Network shows Dacks has 36 newbuildings booked on its orderbook.
The tally includes six LNG dual-fuel VLCCs, as well as 10 container ships of 16,000 teu and 24,000 teu. The remainder is made up of kamsarmax and ultramax bulkers.
Several shipyards in China have moved into the MR tanker segment in the last two years as appetite for tanker orders has risen and the ship type can deliver a higher value than handymax bulkers.
Yangzijiang Shipbuilding, Zhoushan Changhong International Shipyard, Wuhu Shipyard, Penglai Zhongbai Jinglu Ship Industry, Lianyugang Wuzhou Shipbuilding and Huanghai Shipbuilding are all newcomers to the MR tanker market.
