China Merchants Energy Shipping (CMES) has entered into a shipbuilding contract with Dalian Shipbuilding Industry (DSIC) for the construction of a 115,000 dwt aframax tanker.
The deal follows the company’s recently approved newbuilding programme under which it seeks to build no more than three aframax ships at Dalian. The ship will deliver in April 2024 and comes with a $51.5m price tag.
According to CMES, the newbuild will meet the latest emission requirements for nitrogen oxides (NOx), sulfur oxides (SOx), and carbon dioxide (CO2), with lower consumption than its existing aframax crude oil tankers.
The company believes the move will significantly optimise the ship age structure of its aframax fleet and help diversify from very large crude carriers (VLCCs) into other markets as well as lower the risks of having a single ship type and a single market. China Merchants currently has two VLCCs under construction at Dalian, set to deliver in 2022.