Norwegian shipowner Champion Tankers announced that it has exercised its option to purchase two 49,200 DWT IMO II product tankers from Penglai Zhongbai Jinglu Ship Industry (Jinglu Shipyard), marking the completion of the latest round of fleet renewal for the shipowner.
In September 2024, Champion Tankers signed a contract with Jinglu Shipyard for the construction of 4+2 IMO II-type product tankers with a deadweight tonnage of 49,200 tons. Each vessel will cost approximately US$45 million, and the total value of the six new vessels will be approximately US$270 million (approximately RMB 1.93 billion). All vessels will be delivered by the fourth quarter of 2027.
Earlier this year, Champion Tankers acquired two MR product tankers built in 2010 from Norwegian shipowner Nyhill Shipping, marking Nyhill Shipping’s official exit from the shipowning industry.
Champion Tankers has been around for over 20 years and currently operates about 25 vessels worldwide, including its own, leased, and third-party managed fleets. Its fleet mainly transports vegetable oil, liquid fertilizer, volatile chemicals, molasses and clean petroleum products.
The Champion Tankers newbuilding contract is the third newbuilding order for Jinglu Shipyard this year. The first order was for six 49,200-dwt MR2 product tankers from Greek shipowner Oceangold Tankers, due for delivery between October 2025 and November 2026. The second order was for three 3,000-TEU containerships from Arne Blystad, expected to be delivered in 2027.
Jinglu Shipyard is located in Penglai District, Yantai City, on the inner side of the Changshan Islands. It has one 300000t dry dock (369m*102m), one floating dock with lifting capacity 35000t(296m*52m), one floating dock with lifting capacity 5000t(108.9m*26m). The total length of the outfitting quay is about 3000 m. The special equipment and facilities for shipbuilding, including 1000 t and 500 t of gantry cranes, are complete. Jinglu Shipyard has more than 4500 employees, with a complete and professional talent system, which covers all aspects of shipbuilding. The use of international leading design software and precision control software fundamentally ensures product quality. Main products include bulk carriers, chemical tankers, and small and medium-sized container ships.