On November 26, Yangzhou Guoyu Shipbuilding Co., Ltd. formally signed a shipbuilding contract for 2+1+1 41,000 deadweight ton /chemical tankers with Greek shipowner Super-Eco Tankers Management Inc. This move not only signifies international recognition of Guoyu’s competitiveness in the high-end /chemical tanker sector but also injects new momentum into China-Greece cooperation in shipping equipment manufacturing.
According to foreign media reports, the unit price of these new vessels is approximately $40.3 million. If all option orders are confirmed, the total transaction value will reach $161.2 million (approximately RMB 1.141 billion), with delivery scheduled for the first half of 2028. For reference, Clarksons’ data indicates that the current newbuilding price for a 41,000 deadweight ton IMO Type II /chemical tanker is about $45.5 million, a 7% decrease from the $49 million price during the same period last year.
The ship model signed in this contract is built based on the “Super-Eco” concept, with key parameters highlighted: overall length of approximately 180 meters, molded breadth of 32 meters, structural draft of 11 meters, deadweight of 40,800 metric tons at structural draft, and a total cargo tank capacity (including slop tanks) of 48,500 cubic meters. This vessel combines compatibility for transporting both oil and chemicals, adheres to international low-carbon shipping standards, can flexibly meet diverse transportation needs, and achieves dual advantages in operational economy and environmental performance.
Greece is a global shipping hub. Super-Eco Tankers, as a high-quality local shipowner focused on green and energy-efficient vessel operations, chose the flexible “2+1+1” cooperation model for this order, demonstrating high recognition of Guoyu’s shipbuilding craftsmanship, quality control, and delivery capabilities. In the next step, Guoyu will establish a dedicated task force to strictly advance project design, construction, and other stages in accordance with the contract terms and technical standards, ensuring high-quality vessel delivery with a craftsman spirit.
This contract signing represents a routine business expansion for Guoyu Shipbuilding in the /chemical tanker field. Subsequently, the company will continue to focus on ship model quality and customer needs, steadily advancing all construction work.
It is understood that Guoyu Shipbuilding was originally a控股 subsidiary of Wuhan Guoyu Logistics Industry Group Co., Ltd., established in June 2005 and located in the Yizheng Economic Development Zone, Yangzhou City, Jiangsu Province. The project involved a total investment of RMB 1.5 billion. The shipyard possesses four shipbuilding berths, with a maximum lifting capacity of 800 tons, and has the capability to build various types of vessels including cargo ships, oil tankers, and chemical tankers up to 100,000 deadweight tons. Its annual production capacity can reach 2 million deadweight tons, with an output value of approximately RMB 5 billion.
Affected by the overall downturn in the shipbuilding industry, Guoyu Shipbuilding encountered financial difficulties in 2015. In early 2016, local media reported that Guoyu Shipbuilding had拖欠 wages for over 1,000 migrant workers. Compounding the issues, its parent company, Guoyu Logistics, was exposed in March 2016 for overdue bank loans. Under these successive blows, Guoyu Shipbuilding’s production halted, and several overseas shipowners cancelled more than 10 new vessel orders placed with Guoyu Shipbuilding. As the original shareholders fell into a debt crisis and were unable to 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 ruling, marking that Dingyi Investment would formally take a controlling stake in Guoyu Shipbuilding. At that time, Dingyi Investment stated that after gaining control, it would remain focused on Guoyu Shipbuilding’s core shipbuilding business, 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 towards building high-value-added ships. Simultaneously, Dingyi Investment would also integrate its industrial and financial resources to secure high-quality shipbuilding orders for Guoyu Shipbuilding and increase its shipbuilding output value.
Excluding the latest orders, Clarksons’ data shows that Yangzhou Guoyu Shipbuilding currently holds a total orderbook of 34 vessels amounting to 1.936 million deadweight tons, including 18 container ships and 16 chemical tankers, with delivery schedules extending until 2028.
