Shanghai Dingheng Shipping on Chemical Tanker Ordering Spree

China’s Shanghai Dingheng Shipping has embarked upon an ambitious investment campaign as it speeds up efforts to create a fleet of over 20 ships by the end of this year.

Last week, the company inked a deal with Ningbo Xinle Shipbuilding Group on the construction of ten 9,000-tonne stainless steel chemical tankers. Dingheng added that it has reached a preliminary agreement with the shipyard on the construction of ten additional 6,000-tonne stainless steel chemical tankers.

The delivery and financial terms of the two contracts have not been disclosed.

“We will comprehensively optimize the design of this type of ships based on years of experience in practical use, apply domestic high-quality equipment as far as possible premised on keeping good general performance of ships, in an effort to create opportunities for and power the transformation and upgrading of related products in Chinese industry chain of chemical tankers,” the shipping company said.

What is more, Dingheng and Ningbo Xinle Shipbuilding have also signed a 10-year bareboat charter agreement for 6 chemical tankers. These include three 7,500t coated chemical tankers, one 16,500t coated chemical tanker and two 13,200t new stainless steel chemical tankers, which will be delivered to Dingheng in the upcoming few months.

In addition, the Shanghai-based shipping company, operating in Chinese coastal and international chemical transportation segment, has four 8,500t and two 13,000t chemical tankers under construction slated for delivery by the end of this year.