Recently, Yangzhou Guoyu Shipbuilding Co., Ltd. and Shanghai Lidexin Marine Technology Co., Ltd. have joined forces and secured an order for four 49,400 DWT /chemical tankers from shipowner MC GROUP LIMITED, adding a powerful engine to the high-quality development of both parties.
These four new vessels are expected to be delivered by the end of 2026, with a total order value exceeding USD 200 million (approximately RMB 1.431 billion), equivalent to a single vessel cost of over USD 50 million. For reference, Clarksons data shows that the current newbuilding price for a 47,000-51,000 DWT tanker is USD 48.75 million, a 6% decrease compared to USD 52 million in the same period last year.
The 49,400 DWT /chemical tanker signed in this contract can be called a “top performer” in the industry. With an overall length of 182.75 meters, a molded breadth of 32.2 meters, a molded depth of 19.1 meters, a design draft of 11 meters, and a speed of 14.5 knots, its liquid cargo tank arrangement of 9+1 pairs allows it to calmly handle complex and changing shipping environments.
On the track of green environmental protection and energy efficiency upgrades, this ship type is at the forefront: its fuel consumption indicators not only meet Tier III emission standards but exceed them; its energy efficiency meets the EEDI Phase 3 requirements. It is also equipped with a scrubber to effectively reduce sulfur oxide emissions, a shaft generator to improve energy utilization efficiency, and the application of a nitrogen generator further ensures safety and environmental protection during operation. Additionally, the ship has methanol dual-fuel readiness, keeping pace with the global shipping industry’s green transformation wave, fully demonstrating the forward-looking layout of both companies.
The cargo oil system uses FRAMO pumps to ensure efficient and stable transportation; the cargo tanks are specially coated with MARINELINE paint, enabling the carriage of over 1,200 types of /chemical products, greatly enhancing the ship’s operational flexibility and market competitiveness.
This is an option order from the MC Group following the initial two /chemical tankers last year. Previously, in May this year, the first 50,000-ton class /chemical tanker “MC GAEA” (TS2302) built by Guoyu Shipbuilding for the MC Group was successfully launched. The construction from keel laying to launching took only seven and a half months, setting a world record for building ships of this type.
It is expected that the “MC GAEA” will achieve early delivery in early September, and the second ship in the series, “MC METIS” (TS2303), will also achieve early launching simultaneously. These impressive results of “double early” achievements are a concentrated爆发 (/display) of the two companies’ collaborative planning, technical攻坚 (/breakthroughs), and lean management capabilities. They not only set a new benchmark for joint project fulfillment in the industry but also further solidify the leading position of both parties in the field of shipbuilding.
From the early fulfillment of two ships to the successful signing of four ships, this is an important milestone in the cooperation between the two parties and a vote of confidence from the market. In the future, Yangzhou Guoyu Shipbuilding and Shanghai Lidexin will take this as a new starting point, continue to forge joint core competitiveness, focus on high-quality construction, create superior ship products for global customers like the MC Group, and contribute more combined strength on the path of promoting the transformation and upgrading of China’s shipbuilding industry and assisting the high-quality development of the shipping industry.
It is understood that Guoyu Shipbuilding was originally a控股 (holding) subsidiary of Wuhan Guoyu Logistics Industry Group Co., Ltd., established in June 2005. It is located in the Yizheng Economic Development Zone, Yangzhou City, Jiangsu Province, with a total project investment of RMB 1.5 billion, covering an area of about 1,848 acres, with perennial water depth over 13 meters and good water conditions. The shipyard has four shipbuilding berths, a maximum lifting capacity of 800 tons, and possesses the capability to build various types of ships up to 100,000 tons and below, including cargo ships, oil tankers, and chemical tankers. Its annual production capacity can reach 2 million tons, with an output value of about RMB 5 billion.
Affected by the downturn in the shipbuilding industry, Guoyu Shipbuilding encountered difficulties with capital turnover in 2015. In early 2016, local media reported that Guoyu Shipbuilding had拖欠 (owed in arrears) wages to over 1,000 migrant workers. Making matters worse, its parent company Guoyu Logistics was exposed in March 2016 for overdue bank loans. Under these heavy blows, Guoyu Shipbuilding’s production halted, and multiple overseas shipowners canceled more than 10 new ship orders at Guoyu Shipbuilding. As the original shareholders fell into a debt crisis and could not repay debts on time, Guoyu Shipbuilding entered bankruptcy proceedings in November 2021.
In July 2024, the restructuring plan for Guoyu Shipbuilding, with Dingyi Investment as the restructuring investor, was passed by a high vote at the creditors’ meeting and approved by the court, marking that Dingyi Investment will formally take控股 (controlling stake) of Guoyu Shipbuilding. At that time, Dingyi Investment stated that after taking控股 (control) of Guoyu Shipbuilding, it would remain focused on Guoyu’s core shipbuilding business. It would equip Guoyu Shipbuilding with an experienced management and operation team, upgrade supporting facilities, promote comprehensive resumption of work and production as soon as possible, and gradually transition to building high-value-added ships. Simultaneously, Dingyi Investment would also integrate its industrial and financial resources to match Guoyu Shipbuilding with high-quality shipbuilding orders and increase shipbuilding output value.
According to Clarksons data, Guoyu Shipbuilding currently has a total orderbook of 22 ships amounting to 1,329,750 DWT, including 13 oil tankers and 9 container ships, with deliveries scheduled until 2027.
