Posted on January 31, 2024
Belgian tanker giant EURONAV has once again returned to China State Shipbuilding Corporation (CSSC) Qingdao Beihai Shipbuilding to place an order for Very Large Crude Carriers (VLCCs), according to iMarine. The company is planning to invest in the construction of 10 environmental-friendly VLCCs with the huge amount of money ($2.35 billion) it received from the sale of its old fleet in 2023.
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 environmental 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 is 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.
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 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 environmental-friendly VLCCs, and it is not yet known whether the other four will be built by Beihai Shipbuilding.
