Ray Car Carriers in Final Talks for $1B PCTC Order with China’s Guangzhou
Israeli shipowner Ray Car Carriers, known for its business with South Korean shipyards, is reportedly changing its shipbuilding strategy. The company is in advanced talks with Guangzhou Shipyard International, a subsidiary of China State Shipbuilding Corporation, to place a significant order for pure car and truck carriers (PCTCs).
New Orders and Strategic Shift
Ray Car Carriers is in the final stages of negotiations for 10 to 14 liquefied natural gas (LNG)-fueled 8,600 CEU PCTCs, with an estimated value of around $1 billion. Unlike previous speculative orders, these new vessels will be built under long-term charter contracts. This move marks a departure from Ray Car Carriers’ tradition of working exclusively with South Korea’s HD Hyundai shipyards and signals a new era of collaboration with Chinese shipbuilders.
Chinese Shipyards on the Rise in the Car Carrier Sector
The potential deal with Guangzhou Shipyard International signifies the increasing competitiveness of Chinese shipyards in the car carrier industry. Chinese shipyards secured the majority of PCTC orders in 2026, with 35 out of 37 orders going to them. This shift reflects the improving R&D and construction capabilities of Chinese shipbuilders, especially in mass-producing PCTCs.
In comparison to South Korean shipyards, Chinese counterparts excel in securing bulk orders and achieving design optimization, cost reduction, and improved production efficiency through repetitive construction. This trend poses a challenge to South Korean shipbuilders, who may need to adapt to the bulk-building model to maintain their competitiveness in the market.
Ray Car Carriers’ potential order from Guangzhou Shipyard International highlights the changing dynamics in the global shipbuilding industry. If finalized, this deal could further solidify Chinese shipyards’ market position and reshape the landscape of the car carrier sector.
By embracing new partnerships and exploring opportunities beyond traditional markets, Ray Car Carriers is positioning itself for growth and innovation in the evolving maritime industry.
