China’s state-owned shipping player Shandong Shipping Corporation has added a new LNG dual-fuel containership to its orderbook.
Specifically, the Chinese company entered into an agreement with compatriot Jiangsu Jiuzhou shipyard for the construction of one LNG dual-fuel vessel with 1,360 TEU capacity, as reported by Greek shipbroking company Intermodal.
The vessel is expected to be delivered in 2026. The value of the contract was not revealed.
Shandong Shipping also has six methanol-ready bulkers on order at compatriot Qingdao Beihai Shipbuilding Heavy Industry. The company initially ordered four vessels at the end of 2023 and added two more units in September 2024.
The 325,000 dwt vessels, each costing $130 million, will be delivered through 2027 and 2028 and time chartered to Brazilian mining giant Vale.
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Prior to this order, Shandong Shipping made a major investment in twelve 82,000 dwt Kamsarmaxes at Jiangsu New Hantong Ship Heavy Industry back in 2023. The 96,800 cubic meter ships, slated for delivery in 2024 and 2025, will be equipped with carbon capture and storage technology as the company strives to reduce carbon emissions of its fleet.
Each of the bulkers is valued at about $33.5 million. The deal was reportedly the largest newbuild order ever made by Shandong Shipping.