Cosco Shipping Energy Transportation (CSET) has placed an order for seven more ships at compatriot Guangzhou Shipyard International Company Limited (GSI), owned by CSSC Offshore & Marine Engineering Company Limited.
The order will include two 64,900 dwt crude oil tankers, two 109,900 dwt LR2 vessels and three 114,000 dwt crude tankers, totaling in an investment worth approximately USD 323 million (RMB 2.14 billion.).
Expected delivery dates for the two 64,900 dwt panamax crude tankers are on or before 29 February 2020 and 31 May 2020, respectively. The two 109,900 dwt LR2/Aframax clean products/crude oil carriers of 109,900 dead have expected delivery dates of on or before 31 October 2020 and 31 January 2021, respectively.
Meanwhile three 114,000 dwt aframaxes crude oil carriers are set to be delivered over 2019 and 2020, with the first due by end-November and the remaining two by April and August 2020 respectively.
The project to build two pairs each of panamaxes and LR2/aframaxes and a set of three aframax crude tankers, will be managed by China Shipbuilding Trading Company (International), with delivery scheduled for end-2019 onwards, the company said in a stock market announcement.
As part of its fleet renovation plans CSET said a month ago that it would order 14 tankers at compatriot yards, including four 32,000 dwt and three crude oil tankers of 160,000 dwt at Dalian Shipbuilding, five tankers at GSI and two 65,000 dwt oil tankers at China Shipbuilding International Trading.