On October 9, Fujian Guohang Ocean Shipping (Group) Co., LTD (Guohang Ocean Shipping) issued the “Announcement on the Progress of Major Contracts”.
According to the announcement, on September 30, 2024, Guodian Shipping (Hong Kong) Co., Ltd. (Guodian Hong Kong), under Guohang Ocean Shipping and Wuhu Shipyard signed the Contract Modification Agreement with Guoyuan Ambition Co., Ltd., Guoyuan Honesty Co., Ltd., Guoyuan Elegance Co., Ltd., and Guoyuan Wisdom Co., Ltd., wholly-owned subsidiaries of Guodian Hong Kong respectively. The contract stipulated that Guodian Hong Kong unconditionally transferred all the rights, obligations and responsibilities under the shipbuilding contract to the four newly established subsidiaries.
The change in the main body of the shipbuilding contract aims to build new ships through the establishment of a single-ship company. Single-ship company refers to that a company owns only one ship, which is a kind of company mode widely adopted by overseas shipping companies. This model can not only enable Guohang Ocean Shipping to adapt to market changes through its flexible organizational structure, so as to respond quickly to market demand and avoid operational risks.
As of September 30, 2024, Guodian Hong Kong has issued notices to Wuhu Shipyard announcing the commencement and construction of four selected ships. The formal construction matters shall be examined and approved by the competent authority of Guohang Ocean Shipping before signing the contract. The conclusion of the contract signing shall be subject to the examination result of the competent authority of Guohang Ocean Shipping.
It is understood that on December 28, 2023, Guohang Ocean Shipping and Wuhu Shipyard signed a contract for the construction of 4+6 89,000 DWT methanol dual-fuel bulk carriers.
According to the announcement issued by Guohang Ocean Shipping on January 2, 2024, the single ship cost of the 89,000 DWT methanol dual-fuel bulk carrier is $ 36.48 million, and the first four ships will be delivered on September 30, 2025, December 30, 2025, March 30, 2026, and June 30, 2026 respectively. Based on this calculation, the value of the eight new shipbuildings already in effect at Wuhu Shipyard is $291.84 million.
On February 1, Guohang Ocean Shipping again issued the “Announcement of the Signing of Important Contracts”, Guodian Hong Kong and Wuhu Shipyard signed the “Supplement Agreement I to the Construction Contract of 89,000 DWT Bulk Carriers”. According to the agreement, Guohang Ocean Shipping has the right to announce to Wuhu Shipyard within the agreed time whether the next six option ships will take effect and be built. The number of ships to be built is 2 + 2 + 2 (hull numbers: W23145, W23146, W23147, W23148, W23149, W231410).
The 89,000 DWT bulk carriers of this batch are expected to have a lower fuel oil consumption of 0.54 to 1.39 tons per day with 4,000 to 7,000 tons of additional cargo. All new shipbuildings will be equipped with a fuel optimization system and an energy consumption control system, which can save energy by automatically planning the route, speed and fuel consumption according to the requirements of wind direction, current direction, wave height, longitudinal inclination of the ship and time of arrival in the area where the ship is sailing at sea.
