Clarkson data shows that the 37 new ship orders undertaken by New Times Shipbuilding in 2023 are all for tankers, including 6 VLCCs, 18 Suezmax crude oil tankers, 7 LR2 product tankers, 4 LR1 product tankers and 2 MR product/chemical tankers, and up to 22 of them are LNG dual-fuel vessels. In 2023, New Times Shipbuilding’s hand-held orders for oil tankers reached 59 ships, counting 1.7 million Ccompensated gross tonnage(CGT), ranking the first in the global shipyards. The company’s annual order for LNG dual-fuel-powered vessels ranked first in China.
In 2023, New Times Shipbuilding completed and delivered 27 ships, totaling 3,711,500 DWT, and signed new shipbuilding orders for 43 ships, totaling 6,483,000 DWT. As of the end of 2023, New Times Shipbuilding had 101 ships on hand with orders totaling 13,273,700 DWT, a record high for the company’s hand-held orders, which are scheduled until 2027.
In 2024, New Times Shipbuilding will promote the product structure to high-tech ships by improving the production process, increasing the forward movement of processes, shortening the construction cycle, and taking scientific and technological innovation as the driving force. For the whole year, New Times Shipbuilding plans to complete and deliver 31 ships, about 3.92 million DWT.
In March 2023, TMS Tankers, a subsidiary of George Economou, reportedly signed a contract with New Times Shipbuilding for two 115,000 DWT LR2 tankers, scheduled for delivery in 2026. This is the second time for TMS Tankers to place a tanker order with New Times Shipbuilding in 2023. In January 2023, TMS Tankers placed an order for four 157,000 dwt tankers with New Times Shipbuilding.
In June 2023, New Times Shipbuilding signed a Letter of Intent for 2+2 112,500 DWT LNG Dual Fuel (LR II) tankers and a construction contract for 2 156,000 DWT LNG Dual Fuel (SUEZMAX) tankers with Greece-based CAPITAL SHIP MANAGEMENT. In the same month, New Times Shipbuilding signed a construction contract with Greek shipowner Polembros Shipping for two 157,000 DWT Suezmax tankers, the new tankers are of LNG reserved design with desulfurization device and are scheduled to be delivered in April 2025 and May 2025. Greek owner Dynacom also placed an order in June 2023 with New Times Shipbuilding for two Very Large Crude Carriers (VLCCs) at a cost of about $115 million per unit, which are expected to be delivered in 2026.
In July 2023, New Times Shipbuilding also received an order for 2+4 320,000 DWT liquefied natural gas (LNG) dual-fuel VLCCs from Magni Partners, a British company owned by Norwegian shipowner Tor Olav Troim, becoming the third shipyard in China and the fifth in the world to build dual-fuel VLCCs, as well as the first private shipyard in China.
In August 2023, MARAN Tankers, a tanker company of the Greek shipowner Angelicoussis Group, announced the exercise of an option for four 155,500 DWT liquefied natural gas (LNG) dual-fuel Suezmax tankers from New Times Shipbuilding. MARAN Tankers is understood to have signed a contract with New Times Shipbuilding in April 2023 for the construction of 4+4 LNG dual-fuel Suezmax tankers. The first four units will be delivered in 2026, with another four scheduled for delivery in the first and second quarters of 2027.
In December 2023, Minerva Marine, a Greek shipping company, ordered two 114,000 DWT LR2 product tankers from New Times Shipbuilding, with the delivery of in the first and second quarters of 2027. Dynacom Tankers, a tanker company owned by Greek shipowner George Procopiou, has also placed an order with New Times Shipbuilding for six 75,000 DWT product tankers, which are scheduled for delivery between 2026 and 2027.