Hengli Shipbuilding Dalian, a subsidiary of Guangdong Songfa Ceramics, has entered into an agreement for the construction of two 306,000 DWT very large crude carriers (VLCC) for single-purpose vessel companies under Eastern Pacific Shipping.
The total value of the transaction is estimated to be between $200 million and $300 million.
Guangdong Songfa Ceramics stated that because the amount involves confidential commercial information, the specific figure is exempt from disclosure. However, the company confirmed that the contract value exceeds 50 per cent of its audited main business revenue from the most recent fiscal year.
The contracting parties are based in Singapore and are managed by Eastern Pacific Shipping, which operates a fleet of 348 vessels with a total deadweight tonnage exceeding 30 million tonnes.
Guangdong Songfa Ceramics said the normal performance of the contracts is, "expected to have a positive impact on the company’s future operating results," and will help to, "further consolidate its competitive advantages."
The vessels are scheduled for sequential delivery in the second half of 2028. Payments will be made in instalments according to the progress of the work.
