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A Chinese shipbuilding company specializing in premium marine vessels and engineering has secured a contract for four very large crude carriers, with an estimated value ranging from $400 million to $600 million.
A prominent European shipowner commissioned four VLCCs, each with a deadweight capacity of 306,000 tons, from the Chinese manufacturer. The parent company of the shipbuilder, Guangdong Songfa Ceramics, announced the deal yesterday, though the client’s name and the contract’s financial details remain confidential.
Payments for the vessels will be conducted in U.S. dollars, with delivery of the ships scheduled sequentially from the second half of next year through the first half of 2027, according to company reports.
These VLCCs will be designed as large-scale crude oil tankers capable of efficient loading and unloading at major global ports. They will facilitate long-distance, transoceanic transportation of crude oil, including substantial shipments from primary oil fields to refineries.
This order underscores the shipbuilder’s expertise and advanced technical capabilities in high-end vessel design. It is expected to positively influence the company’s future financial performance and strengthen its position in the VLCC market.
The shipbuilding firm stands among China’s leading five in its industry. It became a subsidiary of a major private petrochemical conglomerate in 2022; however, in May of this year, it was transferred to Guangdong Songfa Ceramics amid a significant restructuring. This shift marked a strategic move from ceramics manufacturing to focus on research, development, manufacturing, and sales of ships and advanced equipment.
Shares of Guangdong Songfa Ceramics closed at 46.82 yuan (approximately $6.58) in Shanghai today, rising 1.5%, after reaching gains of up to 3.6% during the morning session.
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