Dalian Shipbuilding Industry Corporation(DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), together with China Shipbuilding Trading (CSTC) formally signed a contract for the construction of two LNG dual-fuel powered VLCCs with Capital Maritime & Trading (Capital) of Greece, at the Posidonia 2024 maritime event held in Athens.
Evangelos M. Marinakis, Chairman of Capital, Jerry Kalogiratos, President of Capital, Du Gang, Deputy Secretary of the CSSC, Wang Yongliang, Director of the Economic Operation Department, He Xu, Deputy General Manager of DSIC, Lin Feng, Deputy General Manager of CSTC and other guests attended the signing ceremony and witnessed the project signing. Nicholas G. Los, Authorized Signatory of Capital, Peng Guisheng, Director of Marketing Department of DSIC, and Zhang Dalei, General Manager of the Second Department of Marine Business of CSTC signed the shipbuilding contract on behalf of the three parties.
The contracted VLCC is an optimized and upgraded version of super-large crude carrier tailor-made by DSIC for the ship owner. It is equipped with ME-GI high-pressure dual-fuel power engine, which can reduce carbon emission by 20% compared with traditional fuel, and has reached the world advanced level of the same type VLCC in terms of overall performance, environmental protection characteristics, safety and reliability.
Capital is one of the top five large-scale shipping companies in Greece, with strong strength and active investment, now holding more than 100 vessel assets, and is committed to promoting environmental upgrading of the fleet and leading the green development of the industry. Previously, CSTC has joined hands with DSIC to successfully undertake four LNG dual-fuel powered VLCC newbuilding projects for Capital.
According to previous news, Capital signed a contract with DSIC for 4+2 LNG dual-fuel powered VLCCs in January this year. The cost of each LNG dual-fuel VLCC in this series is about US$140 million, and the total value of the six VLCCs is about US$840 million (about RMB 6.1 billion), with deliveries starting from the end of 2026.
DSIC is engaged in the production of VLCCs. Up to now, DSIC has delivered at least 117 VLCCs to domestic and overseas shipowners, ranking first among domestic shipyards.