Jiangxi New Jiangzhou Shipbuilding Heavy Industry (hereinafter referred to as “New Jiangzhou”) recently received an email containing the board resolution from DM SHIPPING CO., LTD. (hereinafter referred to as “DM SHIPPING”), South Korea’s largest chemical shipping company. This signifies the approval by both boards of directors of the contract signed between New Jiangzhou and DM SHIPPING for the construction of 33,000 DWT methanol dual-fuel duplex stainless steel chemical tankers. The contract was signed in Shanghai by New Jiangzhou Shipbuilding Heavy Industry General Manager Wu Qiuping and DM SHIPPING Vice President J.K. Song.
The order includes three vessels with a total contract value exceeding RMB 1.2 billion (approximately US$168 million. The new vessels will be classed by the Korean Register of Shipping (KR) and delivered in 2028 and 2029, respectively. This collaboration marks the commencement of a new partnership between the two parties in the construction of high-end chemical tankers.
As one of China’s most prominent shipbuilders specializing in the construction of small and medium-sized chemical tankers, New Jiangzhou has consistently focused on the niche market for small and medium-sized oil and chemical tankers in recent years. By continuously enhancing its technological R&D capabilities, optimizing production processes, and strengthening its quality control systems, the company has established a strong brand image and market reputation within the industry, while also earning a favorable standing in the international market.
DM SHIPPING CO., LTD. is an international shipping company specializing in maritime transportation, logistics, and related services. Its main businesses include chemical transportation, container shipping, vessel chartering, and maritime services. Operating a fleet of 16 chemical tankers, the company covers major bulk trade routes across Asia (China, Japan, South Korea), Australia, and South America, positioning itself as South Korea’s largest chemical shipping enterprise. This collaboration with ShinKangJoo Shipbuilding represents a key strategic move for DM SHIPPING to deepen its presence in the chemical tanker sector. Together, the two companies will advance to provide safer, more reliable, and higher-quality chemical tankers for the global chemical transportation market.
The 33,000 DWT methanol dual-fuel duplex stainless steel chemical tanker signed this time is a high-performance vessel powered by green clean energy, custom-built by the shipbuilder for DM SHIPPING. This vessel incorporates internationally advanced design concepts and construction standards, achieving industry-leading levels in safety, environmental performance, and economic efficiency.
The vessel has an overall length of 185 meters, a beam of 28.6 meters and a design draft of 10.3 meters. Facing numerous competitors both domestically and internationally, New Jiangzhou emerged victorious and secured the contract. This outcome fully demonstrates DM SHIPPING’s high recognition and trust in New Jiangzhou’s technical capabilities and service quality.
This collaboration holds significant strategic importance: on one hand, it will help New Jiangzhou secure its rightful position in the small-to-medium-sized oil and chemical tanker market and expand its share in the high-end vessel segment; on the other hand, it provides valuable experience for navigating challenges faced by China’s domestic small-to-medium-sized shipbuilders—such as shifting orders from international shipowners and prevailing market caution—transforming adversity into opportunity.