Singfar Group, the Singapore-based shipowner that entered the MR product tanker market in 2023, has added Aframax tankers to its portfolio.
According to Trade Winds, Singfar Group has signed a construction agreement with Jiangsu New Times Shipbuilding Co Ltd (New Times Shipbuilding) for two 115,000 dwt Aframax crude oil tankers, which are expected to be delivered by the end of 2027. Industry sources revealed that the new crude oil tankers will be equipped with dual-fuel engines that can use liquefied natural gas (LNG) and conventional marine fuels.
It is reported that this is the 6th newbuilding contract of New Times Shipbuilding made public in the tanker market this year, with a total of 23 units, with carrying capacity ranging from 75,000 DWT to 320,000 DWT. Among them, two 320,000 DWT liquefied natural gas (LNG) dual-fuel ultra-large crude carriers (VLCC) are expected to be delivered from the second half of 2027 by Magni Partners, a British company under the Norwegian shipowner Tor Olav Troim, as an additional order.
New Times Shipbuilding Is located in Xingang industrial Park Jingjiang City, Jiangsu Province of China, 10 km downstream from Jiangyin Bridge. The yard is located conveniently for both water and land transportation where conditions are excellent.
New Times is the first local 10,000 tonner shipbuilding enterprise, whose annual shipbuilding capacity ranks the third place for years in china. It covers an area of 1,600,000 sqm, the total length of its shoreline is 3200 meters and the sum of its total assets is about 20 billion RMB. The yard currently has the capacity of construction of 100,000~300,000 tonnes class ships and can deliver upto 5million DWT annually. There are also around 3200 staff.
At present, the yard has 3 drydocks, 3 outfiting jetties and surrounding support facilities. The main product portfolio is focus on three main conventional vessels, i.e. Bulker, Chemical/Oil Tanker and Containerships. It covers any tonners with panama beam or above (for more details, please resort to the later introduction of our products), among them the panamax tanker, Suezmax Tanker, Capsize and Newcastle bulkers have reached world-leading level. All products have been sold far-forth to many areas and countries in Europe, Asia and America etc., and classed with various world-renowned classification societies such as ABS, LR, RINA, NK, DNV-GL, BV, KR and so on. Relying on reliable production cycle and excellent quality of products, the yard has gained widely high praise from owners around the world.