As one of the world’s largest independent shipowners, Singapore’s diversified shipping company Eastern Pacific Shipping (EPS) continues to spend heavily on shipbuilding to Chinese shipyards.
East Pacific Shipping has signed a contract with New Times Shipbuilding for the construction of 4 18,000 TEU liquefied natural gas (LNG) dual-fuel containerships and 4+3 8,400 TEU LNG dual-fuel containerships under a charter party, according to Trade Winds.
Sources revealed that the signing of the 4 18,000TEU LNG dual-fuel containerships is the option ships of the 8 + 4 ship order signed by the two sides in July this year, the cost of a single ship is about $204 million, and this calculation, the value of the 4 option ships is about $816 million, and the total value of the 12 new ships is about $2.45 billion.
The cost for one 8400TEU LNG dual-fuel containership is about US$130 million, and together with the option ships, the total value of the order is about $910 million. The total value of the 11 new ships is about $1.726 billion (about RMB 12.285 billion).
The series of container newbuildings, which can run on either LNG or conventional fuels, have signed a long-term charter with French shipping giant CMA CGM on undisclosed terms, industry sources said. The newbuildings will be constructed at New Times Shipbuilding’s new dock and are expected to be delivered between 2027 and 2028.
On July 24, New Times Shipbuilding released a news report that it plans to invest RMB 5 billion (about $702 million) to advance the construction of its new energy shipbuilding project in Jingjiang City, Taizhou City, Jiangsu Province. Sources have previously revealed that New Times Shipbuilding plans to build a 700-meter-long dry dock.
According to the official information of New Times Shipbuilding, the first phase of New Times Shipbuilding New Energy Ship Intelligent Manufacturing Project has a land area of about 900 mu, and it is proposed to build intelligent manufacturing workshop and other plants, and at the same time, to renovate the original coating room and intelligent production line.
The project proposes to add new workshops, 110,000 volt substation, air pressure station, liquid oxygen gasification station, propane gasification station, LNG gasification station, carbon dioxide gasification station etc., auxiliary rooms, and purchase of intelligent equipments with intelligent process and large-sized gantry cranes, as well as the proposed construction of one dock and one inland waterway wharf each.
New Times Shipbuilding has the natural conditions to build all kinds of 300,000-ton ships, and currently has three dry docks of 500,000-ton, 300,000-ton and 100,000-ton with three large outfitting wharves as well as supporting facilities. With the completion of the new dock, the shipyard will have four dry docks.
As one of the world’s largest independent shipowners with 60 years of excellence in the shipping industry, Israeli shipping king Idan Ofer’s East Pacific Shipping has a fleet size of 300 vessels. The fleet includes bulk carriers (53), container ships (75), car carriers (30), tankers (88), gas carriers (41) and LNG carriers (13). If the order for 11 containerships mentioned above is confirmed, it means that the fleet size of East Pacific Shipping will exceed 300 ships.
