Dalian Cosco KHI Ship Engineering (Dacks) has become the latest shipyard in China to join the MR tanker segment.
The Sino-Japanese yard has struck a deal with Taiping & Sinopec Financial Leasing (TSFL) for two fuel-efficient 50,000-dwt product carriers for delivery in 2027.
The Chinese leasing house said the newbuildings will help to ensure the stability of Sinopec Fuel Oil Co’s overseas oil transport supply chain.
They will also cover the transport of Sinopec Group’s refined oil business in Sri Lanka.
Shipbuilding sources said Shandong Shipping Tanker, the tanker arm of Shandong Shipping, will charter the two vessels.
TSFL is said to be paying around $45m each.
Dalian-based Dacks, a joint venture between China Cosco Shipping and Japanese shipbuilder Kawasaki Heavy Industries, was established in 2007 during the last market peak.
Equipped with two dry docks, Dacks has delivered 125 vessels, including VLCCs, VLOCs, mega-size container ships and midsize bulkers.
Clarksons’ Shipping Intelligence Network shows Dacks has 36 newbuildings on its orderbook, including six LNG dual-fuel VLCCs, as well as 10 container ships of 16,000 teu and 24,000 teu. The rest are kamsarmax and ultramax bulkers.
Several shipyards in China have moved into the MR segment in the past two years as appetite for tanker orders has risen, and the ship type can deliver a higher value than handymax bulkers.
Yangzijiang Shipbuilding, Zhoushan Changhong International Shipyard, Wuhu Shipyard, Penglai Zhongbai Jinglu Ship Industry, Lianyungang Wuzhou Shipbuilding and Huanghai Shipbuilding are all newcomers to the MR market.
