MSC Group, controlling Global Car Carriers, has recently ordered eight large LNG dual-fuel tankers in China, bringing the total number of tankers in this group to 20, valued at over $2 billion.
Details of New Orders
Global Car Carriers, previously known as Gram Car Carriers, has ordered four additional tankers with a capacity of 8,600 cars (ceu) at the Weihai shipyard in China, two tankers at the Guangzhou Shipyard International, and two more at the Fujian Mawei Shipbuilding yard. These tankers are likely to be launched in the late part of this decade.
With these new orders, GCC's total orders have reached 16 tankers with a capacity of 8,600 ceu and four tankers with a capacity of 7,000 ceu, all of which are being built in Chinese shipyards and utilize LNG dual-fuel technology.
Fleet Expansion Trend
Six of the largest tankers are currently reserved at the China Merchants Jinling shipyard, with six more at Weihai, two at GSI, and two others at Mawei under construction. Additionally, the Weihai and GSI shipyards are engaged in building four tankers with a capacity of 7,000 ceu. The delivery timeline for this program is generally projected from 2028 to 2030.
The expansion of this fleet has accelerated since MSC's acquisition of Gram Car Carriers in 2024. This acquisition, valued at 7.6 billion Norwegian kroner (approximately $700 million), added one of the largest independent PCTC capacity providers in the world to MSC's operations. Following this acquisition, Gram was privatized and changed its name to Global Car Carriers earlier this year.
The new tanker construction program is progressing rapidly. In July, several GCC tankers, including eight 8,600 ceu and four 7,000 ceu, were introduced at the Jinling, Weihai, and GSI shipyards. This investment comes at a time when contracts for car carrier tankers have quickly returned to normal and are thriving after a significant decline last year.
Reports indicate that exports of Chinese cars have significantly increased, causing the PCTC market to become nearly crowded in the short term. Approximately one million cars are being transported in containers due to a lack of suitable roro capacity.
GCC is also reducing the number of its older ships while continuing to build larger vessels. In July, the company sold two ships with a capacity of 2,000 ceu named Viking Oslo and Viking Odessa to Polaris Autoliners for approximately $44 million.
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