New orders again

DSIC (a subsidiary of CSIC), CSTC and CMES (a subsidiary of China Merchants Group) signed a contract for a newbuilt 115K ton crude oil tanker in Minghua Conference Center of Shenzhen on 9^th Oct. 2021. Leaders including Xie Chunlin, the secretary of the party committee and Chairman of CMES, Wang Yongliang, Director of the Ship and Offshore Structure Division of CSIC, Yang Zhizhong, the secretary of the party committee and Chairman of DSIC and Wu Aijun, the Deputy General Manager of CSTC attended the signing ceremony. Representatives of three parties affixed their signature onto the contract.

The 115K ton crude oil tanker of this contract is a new Aframax product independently developed and designed by DSIC for CMES and has the extraordinary feature of “safe, energy efficient, environment-friendly and good port adaptability” and meets the latest international convention, standards and rules. It is a leading type of vessel of DSIC. In light of the current situations that the newbuilt orders in the crude oil tanker market are scarce, the tripartite cooperation highlights the competitive edge of DSIC in the crude oil tanker market. This contract has also signaled that DSIC still keeps its position in the first band of Chinese shipyards in the field of medium and large crude oil tankers and has reinforced its market share, boosted its market activity in this type of vessel and further forged its strategic partnership with CMES.

CMES is an important strategic partner of CSIC. Both parties have kept close cooperation and achieved fruitful results in many projects. CMES (a subsidiary of China Merchants Group) has been operating and managing the fleet of crude oil tankers, that boasts the longest history and greatest experience in China. It is the leading operator of crude supertanker fleet in China and is also the main operator of import LNG transport projects in China. By the end of 2020, CMES has operated and managed 291 vessels, with a total shipping capacity of 39.95 million ton, and is a leading shipping company in terms of its scale.