Dynacom Tankers, owned by Greek shipping magnate George Procopiou, has returned to China’s largest private shipyard, Yangzijiang Shipbuilding, and has ordered four LR1 product tankers.
According to TradeWinds, Dynacom Tankers has ordered four conventional fuel 75,000 DWT product tankers from Yangzijiang Shipbuilding. The contract was signed a few weeks ago but has not been publicly reported.
Referring to the 75,000 DWT product tanker orders that Yangzijiang Shipbuilding has made public this year, the price of each product tanker is about US$55 million. If calculated in this way, the value of Dynacom Tankers’ four new buildings is about US$220 million (about RMB 1.6 billion).
This is Dynacom Tankers’ second order after ordering two LR1 tankers from Yangzijiang Shipbuilding last year. In November last year, Yangzijiang Shipbuilding announced that it had received new orders for 14 ships of three types with a total value of approximately US$770 million, of which two 75,000 DWT tankers were ordered by Dynacom Tankers.
As the shipping market is on the rise, the operating performance of China’s largest private shipbuilding company Yangzijiang Shipbuilding has reached a new high.
On the evening of November 7, Yangzijiang Shipbuilding announced its operating results for the third quarter of 2024. As of November 7, Yangzijiang Shipbuilding has received orders for 98 new ships this year, worth US$11.64 billion, completing 259% of the annual order target. At present, Yangzijiang Shipbuilding hand held orders for 224 new ships worthing US$22.14 billion, including 95 container ships, 38 bulk carriers, 27 gas carriers of various types of LEG/LPG/VLAC/VLEC, and 64 oil and chemical tankers. Clean energy ship types account for about 75% of the total orders.