New Dayang Shipbuilding Expands into Tanker Market
New Dayang Shipbuilding, a prominent Chinese shipbuilder known for its expertise in dry bulk vessels, has secured its first contract for product tankers. The company, part of the state-run Sumec Group, will construct four Medium Range (MR) tankers for undisclosed “world-renowned shipowners.” This marks a significant expansion for New Dayang, which has primarily focused on bulk carriers.
Details of the New Order
The contract involves the construction of four MR tankers, a notable shift from New Dayang’s traditional focus on dry bulk shipping. While specific delivery dates and financial terms remain undisclosed, industry sources estimate the cost of each newbuild to be approximately $45 million. This investment reflects the growing demand for product tankers in the global shipping market.
New Dayang emphasizes that these new tankers will feature advanced technology, boasting high intelligence and excellent environmental performance. Additionally, the vessels will be methanol fuel ready, aligning with the industry’s shift towards more sustainable fuel options. This commitment to environmental standards is increasingly important as the maritime sector faces pressure to reduce emissions.
Since its acquisition by Sumec Group in 2018, New Dayang has built a robust order book, currently exceeding 100 vessels. Most of these orders consist of ultramax bulkers, particularly the Crown 63 Plus design, which has become a flagship model for the yard. The new tanker order signifies a strategic diversification for New Dayang, positioning the company to capture a larger share of the maritime market.
