On the evening of October 13, Guangdong Songfa Ceramics Co., Ltd. (Stock Code: 603268, hereinafter referred to as “Songfa Shares”) announced that the shipbuilding contracts for 3 vessels from its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. (hereinafter referred to as “Hengli Heavy Industry”) were recently signed and became effective.
The announcement shows that the three effective vessel orders include one 306,000-ton Very Large Crude Carrier (VLCC) and two Capesize bulk carriers. The counterparty to these shipbuilding contracts is an internationally renowned shipping company. According to the agreement between the shipowner and Hengli Shipbuilding and the relevant provisions of the “Administrative Rules on Deferral and Exemption of Information Disclosure by Listed Companies”, the specific information of the shipowner is exempt from disclosure.
It is reported that the total contract value for the three vessels is approximately $200 to $400 million USD (approximately RMB 1.423 to 2.846 billion Yuan), payable in US dollars. The new vessels are scheduled for delivery successively from mid-2026 to the first half of 2027.
The announcement stated that the VLCC contracted this time is a mainstream international large crude oil carrier type, featuring large loading capacity, strong endurance, and high operational efficiency. The design of this ship type balances route adaptability and loading flexibility, allowing it to efficiently interface with loading and unloading equipment at major global crude oil ports. It can meet the demands for long-distance transoceanic crude oil trunk line transportation and large-scale transportation from major oil fields to refineries. It is a crude oil carrier that conforms to the latest international tanker design concepts and meets the current international shipping market’s demand for large-scale, low-carbon transportation, fully demonstrating the company’s independent innovation capability and technical strength in the field of high-end ship design.
The Capesize bulk carriers contracted this time are the core mainstay ship type in the international dry bulk shipping market, possessing significant advantages in scale transportation, strong endurance, and superior economy. The design of this ship type deeply integrates route universality and cargo adaptability, enabling efficient compatibility with loading and unloading facilities at major global bulk cargo ports. It can fully meet the transoceanic trunk line transportation needs for dry bulk cargoes such as iron ore and coal. It is a benchmark ship type that aligns with the global trend towards larger and greener bulk carrier fleets. The successful construction of this ship type will fully demonstrate the company’s mature technology and market competitiveness in the design and construction of mainstream large bulk carriers.
The normal execution of the aforementioned contracts is expected to have a positive impact on the future performance of Songfa Shares, conducive to improving the company’s medium to long-term market competitiveness and profitability, and further consolidating the company’s competitive advantage in the very large crude carrier market and the mainstream large bulk carrier market.
So far, since October, Hengli Heavy Industry has received orders for a total of 7 VLCCs and 2 Capesize bulk carriers, with a total value as high as $800 million to $1.3 billion USD.
