Global orders CPPs from China

Global Carriers Bhd in Malaysia has placed an order for two 7,000 DWT double hull clean petroleum product (CPP) tankers from China’s Ningbo Dongfang Shipyard.

The vessels, priced at $9.98 million, are expected to be delivered in May and August 2008 respectively. The new double hull CPP tankers will be utilised to cater for the West and East Malaysia and Singapore routes.

The contract contains an option for two more tankers of similar size and capacity within the next six months. A company spokesman said “We are quite confident of ordering two more vessels from the shipbuilder”, adding that the company was on track to increasing its DWT capacity from 48,000 DWT to approximately 100,000 DWT by 2011.

Global Carriers aims to position itself as a niche CPP carrier and has set aside approximately $70 million to replace its fleet of single hull tanker vessels with double hull tanker vessels over the next five years. The company has a fleet of six 7,000 DWT single hull and one 12,000 DWT double hull tanker vessels.

Looking ahead, the company might diversify into shipping other energy related products such as crude oil, gas, palm oil and also chemical product.