Four High-End Liquid Cargo Vessels of Two Types! Bankrupt Shipyard Secures Its First Order Since Restructuring

On March 23, Yangzhou Dingheng Shipyard Co., Ltd., a subsidiary of China Merchants Shipbuilding Industry Group, and China Merchants Nanjing Oil Transport Co., Ltd. held a signing ceremony in Nanjing, where they executed contracts for the construction of four high-end liquid cargo vessels of Type 2. The ceremony was attended by leaders including Dai Ronghui, General Manager of China Merchants Nanjing Oil Transport; Zheng Hehui, Deputy General Manager of China Merchants Shipbuilding; and Xiong Dengpan, General Manager of Yangzhou Dingheng.

The four vessels signed in this agreement belong to two high-end, mainstream vessel types: three 6,600-dwt stainless-steel chemical tankers are being built by Yangzhou Dingheng, while one 7,600-cubic-meter liquefied gas carrier is being constructed by Nanjing Shipyard. Yangzhou Dingheng and Nanjing Shipyard operate under a unified leadership team, fostering close collaboration and resource sharing to jointly strengthen the Group’s foundation in the construction of high-end liquid cargo vessels.

According to an announcement released by China Merchants Nanyou at the beginning of the month, its wholly owned subsidiary, Nanjing Yangyang Chemical Transportation & Trading Co., Ltd., will construct three 6,600-ton stainless-steel chemical tankers at Yangzhou Dingheng, with a contract value of RMB 492 million including tax. Delivery is scheduled for the first half of 2028. These vessels are designed and built in accordance with the Classification Society’s Green and Eco-Friendly Ship Rules, the latest emission standards issued by the International Maritime Organization (IMO) and China’s competent authorities, and incorporate new energy-saving equipment and technologies. They are equipped with conventional-fuel main engines and feature a methanol dual-fuel ready design, ensuring that their Energy Efficiency Design Index (EEDI) meets the requirements of Phase III.

As a high-quality, publicly listed liquid cargo transportation company under the Group, China Merchants Nansha Oil is a leading provider of small- and medium-sized liquid cargo shipping services in China. With a business strategy that integrates oil, chemicals, and gas; operates both domestic and international trades; and offers direct river–sea services, the company has established an outstanding reputation within the industry. China Merchants Nansha Oil ranks first in the Far East in terms of foreign-trade refined-oil transportation capacity, second domestically in domestic crude-oil transportation, among the top in China in chemical-carrier capacity, and holds the exclusive domestic franchise for ethylene transportation. The company boasts a robust fleet and is widely recognized in the shipping industry as a benchmark for high-quality development.

Notably, the 7,600-cubic-meter LPG vessel ordered by China Merchants Nanyou this time marks the first newbuild order secured by Nanjing Shipyard since its official unveiling last December. According to available information, Nanjing Shipyard Co., Ltd., a subsidiary of China Merchants Shipbuilding Industry Group, was formerly known as Nanjing Dongze Shipbuilding Co., Ltd. Established in March 2005, Dongze Shipbuilding was jointly founded through investment by Nanjing Huatai Shipbuilding Co., Ltd. and Nanjing Dongpei International Trade Group Co., Ltd. However, due to poor operating performance, Dongze Shipbuilding ceased production at the end of 2017.

In March 2025, the Qixia District People’s Court of Nanjing City accepted the bankruptcy reorganization case of Dongze Shipbuilding. In November of the same year, China Merchants Shipbuilding completed its investment in the reorganization of Dongze Shipbuilding. On December 20, the China Merchants Shipbuilding Nanjing Shipyard was officially inaugurated, marking the successful restructuring and integration of Nanjing Dongze Shipbuilding. The company has now fully integrated into the China Merchants Shipbuilding system under a new identity, entering a new phase of high-quality development.

Zhaoshang Shipbuilding’s Nanjing Shipyard enjoys a superior geographical location, adjacent to Longtan Port and the southern bank of the Yangtze River’s main navigation channel. The yard covers approximately 300,000 square meters, with 1 kilometer of quay frontage and ample water depth at its berths. Upstream and downstream, it is served by the Yizheng Oil Tanker Anchorage and the Ninggang Joint Inspection Anchorage, both featuring spacious anchorage waters. The shipyard is equipped with two 50,000-ton-class wide-body slipways, each fitted with one 200-ton gantry crane and one 150-ton gantry crane; it has also constructed one deep-water harbor basin; and it houses fabrication workshops for steel processing, block assembly, and painting, along with other supporting buildings and facilities, fully capable of meeting the construction requirements for its core vessel types.

As the core shipbuilding base for COSCO Shipping’s high-end liquid cargo vessels, Yangzhou Dingheng has been deeply engaged in this field for many years. It is a national-level high-tech enterprise and a specialized, refined, distinctive, and innovative SME. Its “flexible-type chemical tanker” has been recognized as a national-level “Single-Champion Product” in the manufacturing sector, and the company ranks among the world’s leaders in both its order backlog for small and medium-sized chemical tankers and the number of such vessels delivered over the past decade. The two vessel types recently contracted represent the current market’s premium mainstream designs for liquid cargo transportation, precisely aligning with COSCO Shipping Nantong’s strategic objectives of optimizing its fleet structure and enhancing its core competitiveness.

This collaboration represents both a robust initiative by China Merchants Nansha Oil to support its sister units and strengthen the internal industrial chain, and a commitment by Yangzhou Dingheng to fulfill its responsibilities and deliver high-quality projects. The two parties stated that they will take this signing as a starting point to efficiently advance all phases of the project, continuously deepen intra-group synergy and cooperation, expand areas of collaboration, and pioneer innovative cooperation models. Together, they will develop more premium liquid cargo vessel projects, thereby bolstering China Merchants Group’s core competitiveness in the shipping and shipbuilding sectors and jointly ushering in a new chapter of high-quality development.

According to Clarkson’s data, including the latest order, Yangzhou Dingheng currently holds a total of 55 vessels with a combined deadweight tonnage of 920,000 dwt, comprising 48 chemical tankers, 3 asphalt carriers, and 4 LPG carriers, with delivery schedules extending as far as 2029.