Shanghai Waigaoqiao Shipbuilding (SWS) of China has recently secured four 4,200-dwt bunker-tanker newbuildings with an option for two more from Singapore’s Wilmar.
Sources said that the newbuildings value between $7m and $8m per vessel with deliveries slated from the third quarter of next year.
It seems that the state-owned yard, which used to focus on large tankers and bulkers such as VLCCs and capesizes, is diversifying into smaller sized vessels.
According to a newbuilding broker, saying "“SWS is building the bunker tankers to fill up its berth slots,” its move down the scale will only be temporary.
Meanwhile, sources believe that more yards will diversify out of their core areas during the market downturn. “We heard Jiangnan Shipyard is using its naval dry dock to build LPG and ethylene carriers,” said one broker.