Chinese shipbuilders secure new vessel orders as Beijing pushes for high-margin shift
Chinese shipbuilders have recently clinched a series of new orders for large-scale vessels from both domestic and international clients. This surge in orders comes on the heels of a robust first half of the year, reflecting China’s concerted efforts to elevate its shipbuilding industry to higher value chains.
Hengli Heavy Industry Lands Contracts for VLAC Construction
Hengli Heavy Industry, a shipbuilder based in Liaoning, has inked deals for the construction of six very large ammonia carriers (VLACs) with three international shipowners. The parent company, Hengli Group, revealed that these contracts were secured within a week, with four vessels boasting a capacity of 93,000 cubic meters and the remaining two at 88,000 cubic meters. This significant achievement, coupled with the company’s internal capabilities, has positioned Hengli with a competitive advantage in terms of delivery timelines and construction costs.
Waigaoqiao Shipbuilding and Nantong Xiangyu Shipbuilding Secure Major Contracts
In another development, Shanghai’s Waigaoqiao Shipbuilding has landed a contract from Cosco Shipping Development to construct 10 bulk carriers weighing 210,000 deadweight tonnage (dwt), amounting to 5.28 billion yuan (US$781.31 million). Additionally, Nantong Xiangyu Shipbuilding & Offshore Engineering, based in Jiangsu, will build five more vessels for the company under a separate contract worth 2.64 billion yuan. These new agreements underscore China’s expanding footprint in global shipbuilding, strengthening its presence in both traditional and high-value vessel segments.
The recent flurry of orders underscores the growing prowess of Chinese shipbuilders on the global stage, as they continue to solidify their position in the industry.
