On June 20, 2025, a landmark agreement was signed in Shandong Province, China, between Beihai Shipbuilding (a subsidiary of CSSC Qingdao Beihai Shipbuilding Heavy Industry) and Shandong Marine Group.
Expanded Partnership
Beihai Shipbuilding and Shandong Marine Group are significantly deepening their strategic collaboration, aiming to co-create value and promote development across broader and deeper dimensions of the modern marine industry.
This expanded partnership is highlighted by a new shipbuilding project for ten 325,000 DWT methanol dual-fuel Very Large Ore Carriers (VLOCs). This marks the third cooperation between the two entities for this specific type of vessel, bringing the total number of cooperative VLOCs to an impressive 16.
Previous agreements include:
- December 2023: A contract for four GuaibaMax 325,000 DWT methanol dual-fuel VLOCs, with expected delivery in 2027.
- September 2024: A subsequent order for two VLOCs of the same specification, slated for delivery in 2028.
The initial six vessels were priced at approximately $130 million each, totaling about $780 million. If the latest order for 10 new ships is at the same price, the total value of all 16 cooperative vessels would reach $1.3 billion (approximately RMB 9.3 billion).
Environmental Performance
With the inclusion of these 10 newly signed VLOCs, Beihai Shipbuilding’s current orderbook for 325,000 DWT methanol dual-fuel VLOCs now stands at 18 vessels. Of these, 16 are for Shandong Marine Group, and the remaining 2 are for Winning International Group.
The GuaibaMax 325,000 DWT methanol dual-fuel Very Large Ore Carrier (VLOC) design, utilized in these projects, was independently developed by China Ship Design & Research Center Co., Ltd. (CSDC). These vessels measure 340 meters in length and 62 meters in width, and are classified by both DNV and CCS. This VLOC design prioritizes environmental performance and energy efficiency, featuring an optimized methanol fuel tank design for maximum cargo space utilization, and is equipped with a desulfurization tower and EGR (Exhaust Gas Recirculation) system to significantly reduce harmful emissions.
These VLOCs are designed to meet NOx Tier III emission standards in both methanol and fuel oil modes, and even fully comply with EEDI (Energy Efficiency Design Index) Phase III emission requirements in fuel oil mode. Methanol combustion offers substantial environmental benefits, including an 86.5% reduction in carbon dioxide emissions, 60% in nitrogen oxide emissions, and 99% in sulfur oxide emissions compared to traditional fuels. Additionally, these vessels incorporate various energy-saving technologies such as wind rotors, high-voltage shore power, shaft generators, and variable frequency control for seawater pumps/cabin fans to further enhance energy efficiency.
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Source: iMarine
