DSIC inks orders for up to 14 VLCC newbuildings

The contracts consist of six plus two traditional fuel VLCCs and four plus two LNG-fuelled VLCCs.

DSIC didn’t reveal the name of the owners which are likely to be Capital Maritime and Trading and Seatankers Management.

The yard did not give the delivery dates for the VLCC newbuildings.

The VLCC sector currently has one of the lowest orderbooks in its history standing at 23 vessels, or 2.6% of the trading fleet, as of 1 January 2024 according to brokers Poten.

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Oil tankers are the primary vessel products of DSIC which has inked order for twenty-two 110,000dwt tankers, accounting for 23% of global tanker market share, and seventeen 300,000dwt VLCCs, accounting for 51% of global VLCC market share, from the beginning of 2023 to date, totaling in RMB23 billion. 

Over the years the shipyard has delivered 117 VLCCs to domestic and overseas clients.