Nanjing Tanker inks $51m ethylene carrier order

China’s Nanjing Tanker has made a significant move to enhance its presence in the gas shipping sector by ordering a new 9,500 cubic meter ethylene carrier. The order, valued at approximately $51 million, was placed through its subsidiary, Shanghai Changshi Shipping, at the China Merchants Jinling Shipyard. The carrier is expected to be delivered in the first half of 2028, marking a strategic expansion in the company’s operations.

Strategic Investment in Ethylene Shipping

The addition of the ethylene carrier is part of Nanjing Tanker’s broader strategy to optimize its fleet capacity dedicated to liquefied ethylene gas (LEG). By consolidating its assets in this segment, the company aims to strengthen its position within the growing petrochemical market. The order is categorized as a related-party transaction, as both the shipyard and Nanjing Tanker are affiliated with the China Merchants Group, reflecting the deep ties within the industry.

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Nanjing Tanker operates a diverse fleet of over 70 vessels and has been actively renewing its fleet over the past year. This renewal process includes a range of new builds including Medium Range (MR), Long Range 1 (LR1), and Long Range 2 (LR2) tankers, all constructed at domestic shipyards. The latest ethylene carrier order signals a shift towards higher-value gas shipping, aligning the company with anticipated demand growth in the petrochemical sector.

Leadership Change and Future Directions

Founded in 1993, Nanjing Tanker has undergone significant changes recently, including a leadership transition in early 2025. Lei Ding, previously the vice president of China Merchants Energy Shipping and former head of Hong Kong Ming Wah Shipping, has assumed the role of chairman. Under his leadership, the company is expected to continue its focus on fleet modernization and expand its strategic initiatives within the gas shipping market.

This recent order and ongoing fleet enhancements position Nanjing Tanker to better meet the evolving needs of the petrochemical industry, enhancing its competitive edge in the maritime shipping landscape.