China Shipbuilding Trading Secures Order for Two 82,600-Ton Bulk Carriers

China Shipbuilding Trading (CSTC), a division of China State Shipbuilding Corporation (CSSC), has ended 2024 on a high note by securing a new order for two 82,600-ton bulk carriers.

The contract for these vessels was signed in collaboration with CSSC Chengxi Shipyard and Hebei Xinyang Shipping on December 28, 2024.

The next-generation 82,000-ton bulkers, developed by CSSC Chengxi, are designed to be environmentally friendly, with a large cargo capacity and excellent adaptability. They also adhere to the International Maritime Organization’s (IMO) Tier III and EEDI III emission standards.

Although the specific financing details of the project have not been disclosed, it is known that the project is funded in offshore renminbi (RMB).

Hebei Xinyang Shipping specializes in the operation and management of dry bulk carriers, particularly for coal transportation. The company has management centers in Beijing, Caofeidian, Qinhuangdao, and other locations. Hebei Xinyang’s fleet consists of Panamax bulk carriers, and they also charter various types of bulk carriers for their cargo transportation needs.

According to Clarksons’ 2024 Shipping Market Review, the global fleet saw a modest growth of 3.4% to reach 2.4 billion dwt (1.7bn GT) in the previous year. However, there were significant variations within different vessel segments, with the bulk carrier fleet expanding by 3%, tanker fleet by 0.8%, and container fleet by 10.1%.

Shipyard output experienced a notable 13% increase in Compensated Gross Tonnage (CGT), with China dominating the market share at 53% due to its expanding capacity. Order volumes surged by 34%, with 49% of the newly ordered tonnage being capable of using alternative fuels, with LNG being the dominant choice.