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China: CSSC secures USD 650 million contract to build twelve LNG dual fuel oil tankers

30 Apr 2020

China State Shipbuilding Corporation (CSSC) on Wednesday (29 April) said China Shipbuilding Industry Trading Co, Shanghai Waigaoqiao Shipbuilding Co, Guangzhou Shipbuilding International Co, and Bank of Communications Co (BOCOM), have signed a contract worth RMB 4.6 billion (USD 650 million) for the construction of twelve 120,000 dwt tankers. 

Four of the 12 vessels are set to be built by Shanghai Waigaoqiao Shipbuilding and the remainder by Guangzhou Shipbuilding. They are scheduled to be delivered by 2023.

This series of oil tankers has been modified and optimised in a joint effort by Waigaoqiao Shipbuilding and Guangzhou Shipbuilding to combine their expertise and experience. 

Apart from structural improvements such as hull design, upgrades have also been made to dual fuel related systems such as the liquefied natural gas (LNG) fuel tanks and gas supply systems.

The vessels meet the International Maritime Organization (IMO) TIER III emission standards, adhering to energy consumption indicators, environmental performance and reliability requirements.

Upon completion, all 12ships will be handed over to BOCOM Leasing which has signed a long-term lease contract with Shell on 20 April this year.

CSSC says it views the signing of this project as a revitalisation of the national high-end marine equipment manufacturing industry post COVID-19.

Photo credit: China State Shipbuilding Corporation
Published: 30 April, 2020

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