Singapore-based Raffles Shipping has turned to Wuchang Shipbuilding for a series of handysize tankers that effectively replaces an earlier order signed with Jinhai Heavy Industries that never got off the drawing board.
Chinese shipbuilding sources this week revealed that the Wilmar International-affiliated shipowner has lined up a contract for up to six, 19,700-dwt, IMO type 2 product/chemical tankers.
Sources familiar with the deal say it includes two firm vessels set for delivery in the first and second quarters of 2020, with options for up to four more ships in sets of two each.
Staying quiet
Raffles, when contacted this week, reiterated its long-standing policy of not commenting on market speculation, and refused to discuss any matters related to the order.
The company also declined to say whether the ships had been ordered as replacements for a series of up six similar-size tankers at Jinhai Intelligent Manufacturing — the yard formerly known as Jinhai Heavy Industry — that were ordered early last year.
It has emerged that the Jinhai orders were subsequently cancelled before construction began.
The official line from the shipbuilder is that the orders were ditched because the price, which remains undisclosed, was deemed too low. It disputes market suggestions that the order was cancelled because refund guarantees could not be obtained.
Raffles owns and operates a mixed fleet of close to 60 product tankers and bulkers. The company is active in the secondhand market, buying both ship types on a frequent basis.
Several leading maritime databases do not show the company as having any other vessels on order at present.
