Odfjell says it sealed a deal to build four stainless steel chemical tankers at $60m a piece.
The Kristan Morch-led firm signed the shipbuilding contracts with China Shipbuilding Trading and Hudong-Zhonghua Shipbuilding.
The vessels are 49,000-dwt, and with a cargo capacity at 54,600-cbm. Odfjell says they will be the world's largest stainless steel chemical tankers. The first vessel is expected to be delivered in June 2019 and the following vessels with three months intervals.
Odfjell says the contract includes options for the delivery of up to four additional vessels.
Morch said "the vessels will be the most efficient stainless steel chemical tankers available, and the vessels are designed to be good for the environment, good for our customers and a good investment for our shareholders."
The order comes amid a growing supply of large stainless steel tankers in the chemical market. Sinochem Shipping three newbuildings between 33,000 and 40,000-dwt scheduled for delivery through the end of this year, according to Clarksons, with another four for delivery next year. Jo Tankers has seven stainless steel tankers for delivery through 2018; and Navig8 Chemicals is set to take delivery of four stainless steel tankers next year.
Likewise, one of the key cargoes for stainless steel tankers, methanol, has seen a severe erosion in freight rates from the US Gulf Coast this year amid weak spot activity and an influx of Interline-coated tankers. Methanol shipping rates have moved from $95 per ton earlier this year to $40 per ton.
