On October 13, *ST Songfa issued an announcement stating that the contract for the construction of three vessels of its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. (hereinafter referred to as Hengli Shipbuilding) was recently signed and came into effect.
According to the announcement, the contracts signed this time cover one 306,000 DWT Very Large Crude Carrier (VLCC) and two Capesize bulk carriers. The counterparty is a well-known international shipping company. The total contract value is approximately $2–4 million, with deliveries scheduled to commence from mid-2026 through the second half of 2027.
Pursuant to the agreement between the shipowner and Hengli Shipbuilding and the relevant provisions of the Administrative Measures for the Suspension and Exemption of Information Disclosure by Listed Companies, disclosure of the shipowner’s specific information is hereby exempted. The contract is denominated in US dollars, with the performance period commencing upon the effective date of the contract and concluding upon delivery of the vessels.
The announcement indicates that the VLCC contracted this time is a mainstream international large crude oil carrier, offering advantages such as large loading capacity, long endurance, and high operational efficiency. Its design incorporates both route adaptability and loading flexibility, adapting to the loading and unloading equipment of major crude oil ports worldwide. This vessel type is capable of meeting the needs of long-distance transoceanic crude oil trunk line transportation and large-scale transportation from large oil fields to refineries. It conforms to the latest international tanker design concepts and the demand for low-carbon transportation. Its construction will demonstrate Hengli Shipbuilding’s independent innovation capabilities and technological strength in high-end vessel design and construction.
Capesize bulk carriers are the core and main vessel type in the international dry bulk shipping market. They have the advantages of scale transportation, strong endurance and superior economy. Their design integrates route versatility and cargo adaptability. They are compatible with the loading and unloading facilities of major bulk cargo ports in the world, and can meet the transoceanic trunk line transportation needs of dry bulk cargo such as iron ore and coal. They conform to the trend of large-scale and green bulk carrier fleets. Their construction will demonstrate Hengli Shipbuilding’s mature technology and market competitiveness in the field of mainstream large bulk carriers.
*ST Songfa stated that the normal execution of the aforementioned contract is expected to positively impact future performance, enhance the company’s medium-to-long-term market competitiveness and profitability, and further consolidate its competitive edge in the ultra-large crude oil carrier market and mainstream large bulk carrier market.