On January 9, Xingtong Shipping issued the “Progress Announcement on Subsidiary’s Investment in the Construction of Stainless Steel Chemical Tankers and Provision of Guarantees”.
The announcement disclosed that on January 8, Xingtong Shipping’s wholly-owned subsidiary Xingtong Kaicheng Shipping signed a contract with Wuchang Shipbuilding Industry Group (WS) and China Shipbuilding Trading Co. Ltd (CSTC) to build 2 25,900 DWT methanol dual-fuel foreign trade stainless steel chemical tankers with an option for two vessels of the same type. The price of each vessel of the project is RMB 315 million, and the total price of the first batch of contracts is RMB 630 million.
The first vessel is scheduled to be delivered by March 31, 2027, while the second vessel is scheduled to be completed by June 30, 2027 for delivery. Xingtong Shipping intends to provide an irrevocable payment bond for the construction contract of up to RMB 660 million (including a project performance bond of RMB 30 million).
Xingtong Shipping said that this investment will help further optimize the company’s fleet structure, expand the company’s liquid dangerous goods transportation business, and enhance the company’s operational management capabilities and market competitiveness; at the same time, it will help the company better serve customers, adapt to market changes, respond to customer needs, and provide better quality transportation services.
In recent years, WS has been deeply involved in the small and medium-sized tanker market and has developed into one of the most important suppliers of small and medium-sized tankers in China. Xingtong Shipping is a leading enterprise in China’s coastal bulk liquid chemical shipping industry and occupies a leading position in the market segment.
It is reported that Xingtong Shipping has ordered a total of four 25,900 DWT stainless steel chemical tankers (two in each batch) from WS in two batches in 2023 and 2024. Among them, the two ordered in 2024 are also methanol dual-fuel configurations and will be delivered before June 2026. Including the latest two vessels, Xingtong Shipping has confirmed six 25,900 DWT stainless steel chemical tanker orders from WS. Among them, the 25900DWT stainless steel chemical tanker No. 3 has started construction on November 20, 2024.
The chemical tanker has an overall length of 158.98 meters, a beam of 27 meters, a design draft of 9.5 meters, a range of 12,000 nautical miles and a speed of 14 knots. The vessel is equipped with 22 cargo tanks, mainly used for transportation of product oil and chemicals.
The main engine adopts EcoEGR to meet Tier 3 emission requirements, and its performance parameters have lower fuel consumption, higher loading capacity and larger cabin capacity compared with the same type of ship, and meet the requirements of intelligent ship, configured with methanol dual-fuel READY main engine, which can significantly reduce the emission of greenhouse gases, and it is a new generation of high-end stainless steel chemical tanker with leading technology and green environmental protection.
Equipped with EcoEGR to meet Tier 3 emission requirements, the main engine has lower fuel consumption, higher loading capacity and larger cabin capacity compared with the same type of vessels, and meets the requirements of intelligent ships. Equipped with methanol dual-fuel READY main engine, the vessel can significantly reduce greenhouse gas emissions, and is a new generation of high-end stainless steel chemical tanker with leading technology and green environmental protection.