On April 22, Norwegian chemical tanker owner/operator Odfjell announced on its official website that it has signed agreements to purchase four 40,000 dwt fully stainless-steel vessels to be built at Kitanihon Shipbuilding in Japan.
The vessels will be purchased from a Japanese shipowner upon completion and are scheduled for delivery from 1Q 2027 until 2Q 2029. They are secured at competitive prices with a total transaction value of approximately USD 290 million.
The payment terms follow customary industry standards, with installments during the construction period and the remaining balance payable upon delivery.
This investment is part of Odfjell’s ongoing fleet renewal program. The company has recycled three supersegregators since 2Q25. In addition, Odfjell has recently divested the newbuilding contract for a 26,000 dwt vessel currently under construction in China.
The vessels will be compliant with the future proposed EEDI (Energy Efficiency Design Index) Phase 5 for 2035 and onwards, with a 50% reduction compared to the 2009 IMO EEDI reference line. In sum, this implies that their AER (Annual Efficiency Ratio) is approximately 25% lower than the most energy-efficient 40,000 dwt vessels in Odfjell’s current fleet.
According to available information, Kitanihon Shipbuilding was founded in 1969. Initially, it was mainly responsible for the construction and repair of fishing boats. Later, it gradually transformed into a professional shipyard that builds chemical tankers and stainless steel liquid cargo ships. It is equipped with large slipways and dry docks and can build ships with a deadweight tonnage of no more than 40,000 tons and a length of about 180 meters, with an annual production capacity of about 10 ships.