Yangzijiang Maritime is investing in eight ‘Very Large Crude Carrier’newbuilds of approximately 319,000 deadweight tonnes (DWT) each.
The vessels will be constructed by a large Chinese shipyard, with deliveries scheduled in 2028, 2029 and 2030, according to a press release.
Each vessel will be fitted with an exhaust gas cleaning system (scrubber) to comply with the International Maritime Organization’s 0.5% global sulphur cap, whilst allowing the use of high-sulphur fuel oil.
In addition, they are designed to meet current energy-efficiency standards, including a fuel-optimised hull form and an electronically controlled main engine.
The programme will be funded through a combination of equity co-investment and debt financing.
Separately, the group has signed contracts for the sale of four new medium-range tankers with a capacity of 49,800 DWT each, scheduled for delivery in 2027 and 2028.
The company said the vessel sale transactions are expected to contribute to its financial performance, subject to completion, delivery schedules and applicable accounting recognition, barring unforeseen circumstances.
Source: Singapore Business Review