Trader Vitol has placed an order for up to two bitumen/asphalt carrier newbuildings at China State Shipbuilding Corp’s Chengxi Shipyard in a deal for one firm 37,000-dwt ship plus one optional vessel.
A Vitol spokeswoman said the company is committed to expanding its bitumen offering globally.
A Chengxi executive confirmed the contract, adding that it marked the first time that his company will work with the commodity giant.
The Chinese shipyard declined to disclose the price but shipbuilding players suggested the ships would cost about $39m each.
The 30.6-metre wide bitumen carrier is designed by the Shanghai Merchant Ship Design and Research Institute and will be powered on conventional fuel. Vitol is scheduled to take delivery of the firm newbuilding in the first half of 2024.
Vitol’s newbuilding deal is the second bitumen contract for Chengxi this year. In May, Japan’s Kumiai Senpaku commissioned the Chinese shipyard to build one 17,000-dwt newbuilding for 2023 delivery. The vessel's price was not disclosed.
Located in Jiangsu province, Chengxi is also slated to deliver one 37,000-dwt bitumen carrier to Kumiai Senpaku in December.
The vessel will be named White Pearl, and has been time-chartered out to Clearlake Shipping for more than five years. The charter rate was not known.
According to Clarksons’ Shipping Intelligence Network (SIN), Vitol currently has nine asphalt tankers that range between 9,200 dwt and 46,200 dwt in trading.
Two years ago, Vitol took control of Valt — the bitumen joint venture it established with Sargeant Marine in 2016 — by acquiring a further 50% of the company.
The trader said the takeover enabled Vitol to become a leader in the trading, storage and marine transportation of asphalt products around the world.
SIN shows there are seven bitumen carrier newbuildings on order including Vitol’s.
Of the seven newbuildings, three are dual-fuelled ships that will be built by Wuhu Xinlian Shipbuilding. The Chinese shipyard is constructing one 12,000-dwt for Canada’s McAsphalt Marine Transportation and two 23,500-dwt vessels for UK-based Continental Bitumen.
