Cape Shipping, an owner of bulkers and container ships, is taking steps to enter the tanker market, according to Trade Winds.
Shipbuilding sources and brokers say that Cape Shipping has signed a letter of intent with CSSC’s Shanghai Waigaoqiao Shipbuilding(SWS) for the construction of two LR2 tankers, with the cost of a single vessel at about $66 million (about RMB 471 million at current exchange rates) and the total value of the order at $132 million (about RMB 942 million at current exchange rates). The new vessels are scheduled for delivery in 2026.
Founded in 1987, Cape Shipping currently has a fleet of 5 bulk carriers and 11 container vessels. The company’s most recent newbuilding delivery was in 2021, all of which were container vessels.
It is reported that the above order is the second LR2 tanker order disclosed by SWS within a week.
Performance Shipping, a Greek shipping company, announced on December 20th that it had signed a contract with SWS for the construction of two 114,000 dwt liquefied natural gas-ready (LNG-ready) LR2/Aframac product/crude oil tankers, with a single-vessel cost of about $64.8 million, which are expected to be delivered in January and April 2026.