en.Wedoany.com Reported - Singapore's shipping giant Eastern Pacific Shipping (EPS) has recently placed an order with China's Guangzhou Shipbuilding International (GSI) for two 157,000 dwt Suezmax crude oil tankers.

According to TradeWinds, these newbuilds are expected to be delivered in the second half of 2028. The order does not include any options, and the specific price was not disclosed. For reference, Clarksons data shows that the current newbuilding price for a 156,000-158,000 dwt Suezmax crude oil tanker is approximately $88.5 million (about RMB 606 million), an increase of about 2% from $86.5 million in the same period last year.

Including this latest order, EPS's number of Suezmax tankers under construction will increase to seven. Among them, four built by Hengli Heavy Industries are expected to be delivered in 2028, and one built by New Times Shipbuilding is expected to be delivered in August this year.

Meanwhile, sources indicate that EPS is also in negotiations with Penglai Jinglu Shipbuilding for an order of six Suezmax tankers. If this deal is finalized, it will be Jinglu Shipbuilding's first order for this type of vessel.

In the first two months of this year, EPS seized the opportunity of rising tanker asset prices and sold three Suezmax tankers. Among them, the 160,300 dwt tanker "Fairway" (built in 2013) was sold for $56.5 million to Greek shipowner Evangelos Marinakis's Capital Maritime & Trading. Two 158,000 dwt tankers, "Emeraldway" and "Sunriseway" (both built in 2022), were sold to Greek shipowner Thenamaris for $88 million each.

It is worth noting that the "Emeraldway" and "Sunriseway" were initially ordered at Waigaoqiao Shipbuilding in 2020, when ship prices were low, with a construction cost of only $52 million each, equivalent to about $65 million in today's terms after inflation adjustment. Now, with secondhand ship sale prices reaching as high as $88 million, this transaction has brought EPS a profit of approximately $50 million.

It is understood that EPS is one of the world's largest private shipping companies, with over 60 years of development history, committed to driving the shipping industry towards a green and technology-driven direction. Headquartered in Singapore, it has a total of about 7,000 employees, including seafarers and shore-based teams. It operates and manages 348 vessels with a total deadweight tonnage exceeding 30 million, covering diversified vessel types such as container ships, tankers, dry bulk carriers, and gas carriers.

Since 2021, EPS has been active in the newbuilding market, ordering over a hundred newbuilds at shipyards in China, Japan, and South Korea. Clarksons data shows that as of now, EPS has ordered 158 newbuilds at 18 shipyards, covering vessel types including large bulk carriers, feeder to ultra-large container ships, various tankers from MR2 to VLCC, medium and large LPG carriers, VLECs, LNG carriers, and car carriers. After the delivery of all newbuilds under construction by 2029, EPS's owned fleet size is expected to exceed 360 vessels.

EPS's latest contract is the third Suezmax tanker order that GSI has secured this year, marking its return to the Suezmax tanker sector. It is understood that GSI's last Suezmax tanker order dates back to 2019, when EPS also ordered two Suezmax tankers, which were delivered in 2022. After that, GSI did not receive any orders for this type of vessel until signing a contract for four ships with Yasa Shipping in January this year. In early April, GSI also secured an order for two Suezmax tankers from Greek shipowner Venergy Maritime Limited.

The new generation of Suezmax tankers independently designed and developed by GSI follows the design philosophy of "efficiency, environmental protection, and safety." They are fuel-oil propelled, equipped with open-loop scrubbers, with an overall length of about 274 meters, a breadth of 48 meters, a structural draft of 17.1 meters, a deadweight tonnage of about 157,000 tons, and a service speed of 14.2 knots. Their emission standards meet IMO TIER III, and the EEDI energy efficiency index meets Phase 3 requirements. They feature fast speed, light lightweight, low energy consumption, and strong adaptability. In terms of energy consumption indicators, environmental performance, and reliability requirements, they have reached the world's advanced level for ships of the same type.

Excluding the latest order, Clarksons data shows that GSI currently has a total orderbook of 109 ships totaling 7.76 million dwt. This includes 41 chemical tankers, 17 container ships, 21 tankers, 16 car carriers, 8 ro-pax ferries, and 6 other vessels, with delivery schedules extending until 2029.

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