- China State Shipbuilding Corporation (CSSC) has clinched a deal for twelve 120,000-dwt dual-fuel tankers with Bank of Communications Financial Leasing.
- The investment is worth whopping 4.6 billion yuan ($657 million) and comes at a very difficult time for the shipbuilding sector.
- The ships will feature an optimized version of the LNG-powered LRII dual-fuel oil tanker design and will exceed the IMO TIER III emissions standard.
Chinese shipbuilding giant China State Shipbuilding Corporation (CSSC) has won a deal for the construction of twelve dual-fuel tankers, writes Jasmina Ovcina for Offshore Energy.
The deal is for twelve 120,000-dwt dual-fuel tankers with Bank of Communications Financial Leasing at a total cost of RMB4.6bn ($657m).
IMO Tier III emissions standard
Four ships will be built by CSSC’s shipbuilding unit Waigaoqiao Shipbuilding and the remaining eight will be built by Guangzhou Shipbuilding International (GSI).
The ships, designed by Waigaoqiao and GSI, will feature an optimised version of the LNG-powered LRII dual-fuel oil tanker design, and will exceed the IMO Tier III emissions standard.
The vessels are scheduled for delivery in 2023 and will be deployed under seven years of charter deal inked in April this year between Bank of Communications Financial Leasing and Shell.
CSSC said the order comes at a very difficult time for the shipbuilding sector during the COVID-19 pandemic.
CSSC already has a long term cooperation with Bank of Communications Financial Leasing, with the two parties having signed over 50 ships construction contracts totalling RMB 17.8bn.
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Source: Offshore Energy
