Key facts
- Chinese shipbuilders secured over $4.4 billion in orders at the Posidonia maritime exhibition.
- State-owned China State Shipbuilding Corp. (CSSC) received orders for approximately 20 new ships.
- Orders included 12 very large crude carriers (VLCCs) for Dynacom Tankers Management Ltd.
- Orders also included oil tankers and feeder container ships.
- Some of the transactions will be settled in Chinese yuan.
Chinese shipbuilders have secured orders totaling more than 30 billion yuan, equivalent to $4.4 billion, during the recent Posidonia maritime exhibition held in Greece. This surge in orders highlights the intensifying competition among Chinese, Japanese, and South Korean firms for dominance in the market for next-generation new-energy vessels.
State-owned China State Shipbuilding Corp. (CSSC) was a major recipient of these orders, securing deals for approximately 20 new ships valued at over 10 billion yuan. Among these were 12 very large crude carriers (VLCCs) commissioned by Dynacom Tankers Management Ltd. Additionally, Pleiades Shipping Agents SA placed orders for two 50,000-ton oil tankers, and Erasmus Shipinvest Group ordered two 1,900-TEU feeder container ships.
Notably, some of these significant shipbuilding contracts are set to be settled in Chinese yuan, reflecting a growing trend in international trade and finance.