According to foreign media reports, Japanese oil trader Nakagawa products (Nakagawa Bussan) recently signed with South Korea's K Shipbuilding (formerly known as: STX Offshore & Shipbuilding) two 6600 dwt chemical ship construction contract, the total cost of about 42 million US dollars, is expected in 2025 the first half of the delivery.
Nakagawa will pay about $21 million per vessel, and Shipbuilding K will build the two chemical tankers alongside the tankers, according to a shipbuilding industry source familiar with the deal. It is understood that the last time the company ordered a new ship in Shipbuilding K was in early 2021, when the two chemical ships "CS Breeze" and "CS Hana" were ordered at US $16 million each, and the ships were delivered in 2022.
According to VesselsValue data from's global valuation and data provider, Nakagawa & Co. currently has four small chemical tankers under its umbrella. In addition to the "CS Breeze" and "CS Hana", the other two ships are: the 11300 dwt "CS Summer" and "CS Crane", both of which were built in 2007.
inflation, rising material and labor costs were cited as the main reasons for the price increase of about 31%. Nakagawa's latest two new ships have the same design and specifications as the two tankers delivered last year, sources revealed. But so far, the two sides have not been on the order to comment.
Nakagawa & Co., headquartered in Nagoya, Japan, is a conglomerate that sells petroleum products in Japan and other countries, as well as oil terminal operations, land transportation and maritime transportation services. It is reported that Nakagawa products and South Korea's S-OIL oil company there are close trade.
K Shipbuilding has long focused on medium-sized tankers, and the shipyard's plan to take orders earlier this year is to take orders for 18 new ships worth $0.8 billion. So far this year, including new shipbuilding orders, K Shipbuilding has undertaken 8 new shipbuilding orders worth about $0.3166 billion, has completed the annual target of 39.58.
specifically, in January this year, Shipbuilding K signed a contract with European shipowners for the construction of two 50000 dwt MR tankers at a total cost of about US $88 million, which is the first new ship order the company has undertaken this year. In May, Greek shipowner Nicholas Notias signed a contract with the shipyard through SteelShips for the construction of two 50000 dwt MR tankers at a total cost of about US $92.6 million. In early June, the shipyard signed a contract with Greek shipowner Chemnav Shipmanagement for the construction of two 50000 dwt MR tankers at a total cost of about US $94 million. It is reported that this batch of new shipbuilding will be equipped with desulfurization tower, and plans in the first half of 2025 delivery.
K Shipbuilding, formerly known as STX Offshore & Shipbuilding, was once the fourth largest shipbuilding company in the world. Later, due to the global shipbuilding industry downturn caused by the international financial crisis in 2008, it experienced many postgraduate studies. In 2016, it entered the court bankruptcy management procedure and then concentrated on debt settlement. In January 2017, the shipyard signed a 250 billion won (approximately US $0.224 billion) asset sale contract with the KHI-UAMCO consortium alliance; in July, it announced the completion of the relevant procedures for the sale and the completion of the name change.
Source: Shipping Industry