Chinese and Japanese shipyards accept orders! Norwegian ship owners add chemical tankers

Recently, Norwegian chemical ship owner Odfjell announced the ordering of three new ships from Chinese and Japanese shipyards.
Odfjell disclosed new orders in its latest Q4 financial report. Among them, the company has placed an order with Yangtze Mitsui Shipbuilding to build two 49000 deadweight ton chemical tankers, which are expected to be delivered in 2027 and 2028; We have placed an order for one 25000 deadweight ton stainless steel chemical tanker at Nippon Shipbuilding in Japan, and it is expected to be delivered in 2026.
It is reported that the two new ships of Yangtze Mitsui Shipbuilding are owned by third-party shipowners and will be leased to Odfjell through long-term charter contracts; Odfjell, as the shipowner, will be responsible for the shipbuilding orders for the new island.
Odfjell did not disclose the price of the new ship. As a reference, Clarkson's data shows that the current price for building a new 25000 to 26000 deadweight ton chemical tanker is approximately $46.5 million; The newly built price of a 47000-51000 deadweight ton product oil tanker is about 52 million US dollars, an increase of 7% compared to 48.5 million US dollars in the same period last year.
Including the latest orders, Odfjell will increase the number of new ships under construction to 18, including 2 self owned ships and 16 time charter ships. At present, the company's fleet owns and operates 71 chemical tankers, with vessel specifications ranging from 15000 deadweight tons to 52000 deadweight tons, of which 36 are self owned vessels.
The financial report shows that despite a slightly sluggish market, Odfjell achieved record strong performance in 2024 and continued to perform well in the last quarter of 2024. In the fourth quarter of last year, Odfjell's net profit was 51 million US dollars, and its net profit for the whole year of last year was as high as 278 million US dollars.
Excluding the latest order from Odfjell, Clarkson's data shows that Yangtze Mitsui Shipbuilding currently holds a total of 55 orders with 3.15 million deadweight tons, including 2 LEG ships, 19 LPG ships, 8 MR type ships, and 26 bulk carriers, with delivery arrangements continuing until 2029. Xinlai Island Shipbuilding holds a total of 82 orders of 2.87 million deadweight tons, including 40 bulk carriers, 16 chemical tankers, 14 general cargo ships, 9 automobile transport ships, and 3 other ships, with a delivery date until 2029.

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