No matter how expensive the ship price, they’ll still build it! A British shipowner has returned to Chinese shipbuilders to order two car carriers.

British shipowner Zodiac Maritime has returned to CIMC Raffles in Yantai, placing an additional order for two 7,000‑car capacity LNG‑dual‑fuel car carriers.

According to reports, the two newest vessels are scheduled for delivery in May and October 2028, with each estimated to cost over US$100 million, bringing the total transaction value to more than US$200 million (approximately RMB 1.36 billion). These ships feature CIMC Raffles’ latest design, including a heavy-duty stern ramp and a reinforced deck structure. Each vessel will be equipped with two 2,200-cubic-meter LNG fuel tanks.

For reference, Clarkson data show that the current price of a new 7,000–8,000‑car capacity car carrier is US$90 million, slightly down from US$92 million at the same time last year.

Zodiac Maritime is a long-standing customer of CIMC Raffles. On September 2, 2021, CIMC Raffles signed an EPC turnkey contract with Zodiac Maritime for multiple 7,000‑car capacity car carriers, marking the beginning of in-depth cooperation between the two parties. The series comprises a total of 10 vessels; the lead vessel, “BYD Explorer No.1,” was delivered in January 2024, and the final vessel, “Jisu Glory,” was completed and delivered last September.

Notably, the first four 7,000‑car capacity car carriers ordered by the two parties in 2021 were priced at approximately US$83 million per vessel. The final two vessels added to the order in 2023 saw their unit price rise to US$92.5 million, while the most recent two ships contracted this year are reportedly valued at over US$100 million each—representing a 20% increase compared with the initial order five years ago.

As a diversified shipping company, Zodiac Maritime currently operates a diverse fleet of approximately 200 vessels, encompassing container ships, bulk carriers, car carriers, LPG carriers, and tankers. In recent years, the company has been active in the newbuilding market; in addition to CIMC Raffles’ two latest car carriers, it has 26 vessels under construction, including eight VLCCs, eight Suezmax tankers, two LR2 product tankers, five 6,000-TEU container ships, and three 88,000-cubic-meter very large ammonia carriers (VLACs).

Market sources indicate that, of the 10 car carriers previously built by CIMC Raffles for Zodiac Maritime, half have been chartered to domestic automakers, including BYD, Geely Automobile, and Anji Logistics. At present, Zodiac Maritime is likely in negotiations with another major Chinese automaker regarding its two latest newbuilds.

Including the latest order, according to Clarkson’s data, CIMC Raffles currently holds a total of 33 vessels amounting to 3.49 million deadweight tons, comprising 12 container ships, 5 car carriers, 4 Ro‑Ro vessels, 4 oil tankers, 4 FPSOs, 2 AHTS vessels, and 2 seabed rock‑placement vessels, with delivery schedules extending through 2030.

Two 6,000-ton dual-fuel chemical tankers built by China Merchants Shipbuilding at Yangzhou Dingheng were named on the same day.

This year, orders have already exceeded 130 vessels! Hengli Heavy Industry has secured two new types of ships, totaling five units.

Two 6,000-ton dual-fuel chemical tankers built by China Merchants Shipbuilding at Yangzhou Dingheng were named on the same day.

This year, orders have already exceeded 130 vessels! Hengli Heavy Industry has secured two new types of ships, totaling five units.