- EURONAV, a leading Belgian tanker company, has returned to China State Shipbuilding Corporation (CSSC) Qingdao Beihai Shipbuilding to order environmentally friendly Very Large Crude Carriers (VLCCs), planning to invest $2.35 billion from the sale of its old fleet in 2023.
- Beihai Shipbuilding signed the first batch of 1+1 319,000 DWT VLCC construction contract with EURONAV in August 2023, marking its entry into the VLCC construction field and EURONAV’s first order from a Chinese shipyard.
- The VLCCs are priced at approximately US$112.2 million each, meeting the Energy Efficiency Design Index (EEDI) requirements and capable of achieving “zero-carbon” operation in the ship’s life cycle.
- EURONAV plans to invest in the construction of 10 environmentally friendly VLCCs, with uncertainty regarding whether the other four will be built by Beihai Shipbuilding.
EURONAV’s VLCC Expansion With Beihai Shipbuilding
According to iMarine, EURONAV, a prominent Belgian tanker company, has re-engaged with China State Shipbuilding Corporation (CSSC) Qingdao Beihai Shipbuilding to commission the construction of environmentally friendly Very Large Crude Carriers (VLCCs). With proceeds of $2.35 billion from the sale of its old fleet in 2023, the company intends to invest in the construction of 10 such vessels.
EURONAV has placed an additional order for 1+2 319,000 dwt Amonia-ready VLCCs with Beihai Shipbuilding for delivery in the first quarter of 2027, according to Trade Winds. With this latest order, EURONAV has ordered 4+2 next-generation environmentally friendly VLCCs from Beihai Shipbuilding.
In August 2023, Beihai Shipbuilding signed the first batch of 1+1 319,000 DWT VLCC construction contract with EURONAV. With this order, Beihai Shipbuilding officially entered the VLCC construction field, and it was also the first time for EURONAV to order VLCCs from a Chinese shipyard. in October 2023, EURONAV announced that the optional order was officially in force, and on November 30th, EURONAV placed an additional order with Beihai Shipbuilding for a third ship of the same type, all three ships will be delivered in the second half of 2026, and the third order has been confirmed on November 7th, 2023, and will be delivered in the second half of 2026. On December 7, 2023, the third additional order was confirmed.
Beihai Shipbuilding’s Current Order Book
The cost of the above VLCCs is US$112.2 million (approximately RMB 806 million, calculated at the current exchange rate), and if all of the latest two additional optional orders come into effect, the total value of Beihai Shipbuilding’s orders for six VLCCs will be approximately US$673 million (approximately RMB 4,833 million, calculated at the current exchange rate).
This series of VLCC is designed by China Ship Design & Research Center Co., Ltd. The ship has an overall length of 339.50 meters, a beam of 60.00 meters, a depth of 30.30 meters, a structural draft of 22.50 meters, and a speed of 14.5 knots. It meets the requirements of the third stage of the Energy Efficiency Design Index (EEDI), and can be equipped with two 6,000 m3 ammonia fuel storage tanks in the future, achieving “zero-carbon” operation in the whole life cycle of the ship.
Clarkson data show that, excluding the above 1 + 2 VLCC, Beihai Shipbuilding’s hand-held order book has reached 63 ships, ship type including VLCC, very large ore carriers (VLOC), containers, and bulk carriers, delivery schedule to 2027. Among them, VLCCs are all ordered by EURONAV.
According to EURONAV, the company plans to invest in the construction of 10 environmentally friendly VLCCs, and it is not yet known whether the other four will be built by Beihai Shipbuilding.
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Source: en.portnews
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