Mediterranean Shipping Company (MSC) has recently signed a contract for the construction of three new dual-fuel LNG oil tankers at the Waigaoqiao shipyard in China. This contract, as part of the company's fleet expansion plan, brings the total number of ships on order at this shipyard to 13.
Contract Details and Costs
According to received information, each of these tankers has a capacity of 21,700 TEU, and the value of each ship is estimated at around $210 million. Therefore, the total investment for these three tankers amounts to approximately $630 million. This new fleet will add to MSC's total fleet capacity, which is expected to increase to 65,100 TEU due to new plans.
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Chinese shipbuilding market reports indicate that these three ships were contracted earlier this year, with deliveries scheduled for March, July, and November 2029. MSC and the Waigaoqiao shipyard have yet to publicly confirm this contract and its value.
Other Developments in MSC's Fleet
This new contract is part of a broader program by MSC to expand its fleet in China. The company has also recently joined in the construction of 20 other tankers with a capacity of 24,000 TEU at Hengli Heavy Industries in Dalian, which could add approximately 480,000 TEU to future capacity.
Additionally, MSC continues to strengthen its relationship with Zhoushan Changhong International shipyard and has reached an agreement to construct six more tankers with a capacity of 21,700 TEU for delivery in 2029 and 2030.
By the end of October, MSC's operational fleet has reached approximately 7.47 million TEU, and the production line of new tankers is nearing 3.4 million TEU. The combined capacity of active and on-order ships has now surpassed 10 million TEU.
The Waigaoqiao shipyard has also successfully secured several large shipbuilding programs from other major operators. For example, in August, COSCO Shipping Holdings signed a contract for the construction of twelve dual-fuel LNG tankers with a capacity of 21,700 TEU worth $2.688 billion at this shipyard, equivalent to $224 million per ship, with deliveries scheduled between 2028 and 2030.
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