Singapore-based diversified shipowner Eastern Pacific Shipping (EPS) continues to order new vessels to advance its fleet expansion plan of 500 vessels.
In June of this year, EPS signed a contract with Fujian Shipbuilding’s Mawei Shipbuilding/Xiamen Shipbuilding Industry and China Merchants Jinling Shipyard (Nanjing) Co. Ltd.(“CMJL (Nanjing)”) for the construction of 6+6 5,500 CEU liquefied natural gas (LNG) dual-fuel powered PCTCs (pure car and track carrier). Fujian Shipbuilding will undertake the construction of 4+4 PCTCs, with the first four scheduled for delivery in 2027, while CMJL (Nanjing) will undertake the construction of 2+2 PCTCs.
Sources said that EPS has signed a charter agreement for a new PCTC with Spanish ro-ro car carrier operator Suardiaz Shipping Lines, but the specific charter period and rate have not been announced.
On November 16th, Fujian Shipbuilding and DongHwa Entec signed an agreement for the procurement of 8 set of LNG gas supply system and tanks for 5,500 CEU dual-fuel PCTCs. The signing of this contract means that Fujian Shipbuilding’s undertaking of 4+4 5,500 CEU dual-fuel PCTCs from EPS has come into full effect.
The latest news shows that the two alternative PCTCs of EPS in CMJL (Nanjing) have also come into effect, and the number of 5,500CEU PCTCs ordered by EPS in CMJL (Nanjing) has reached four.
According to previous reports, the cost of each PCTC is approximately $80 million. If all 12 vessels are confirmed, the total value will reach $960 million, roughly equivalent to 7 billion RMB.
At present, the number of new orders for small and medium-sized PCTCs is relatively small, but there is still a considerable market demand in the regional trade field. Clarksons data shows that excluding the above orders, there are only 8 orders for small and medium-sized PCTCs in the world, including 4 4,200 CEU LNG dual-fuel car carriers ordered by Greek shipping company Neptune Lines from Mawei Shipbuilding and 2 3,000 CEU and 1 2,450 CEU PCTCs ordered by other shipowners. The 12 PCTCs ordered by EPS this year are the largest new shipbuilding investment in the small and medium-sized car carrier market in recent years.