CSSC Takes a $1bn Car Carrier Order and Two More PCTCs for SFL at SMM
Ten LNG dual-fuel 8,200 CEU vessels for delivery between 2029 and 2031 mark a first tie-up
China State Shipbuilding Corporation used SMM 2026 to secure a substantial run of pure car and truck carrier orders, led by a contract worth more than $1bn.
China CSSC Holdings said in a stock exchange disclosure issued on 3 September that its subsidiary Guangzhou Shipyard International had signed a newbuilding contract with an unnamed well-known shipowner for 10 LNG dual-fuel PCTCs, each with a capacity of 8,200 CEU, for delivery between 2029 and 2031. Shipbroking and market sources identified Ray Car Carriers as the owner behind the order, with the contract signed during the Hamburg exhibition.
The deal marks the first collaboration between CSSC and Ray Car Carriers, an owner that was linked earlier this year to an order for two PCTCs at HD Hyundai. Clarksons data puts the company's active fleet at 66 vessels with a further 15 on order, comprising a mix of PCTCs and VLCCs.
The same yard also signed with John Fredriksen-backed SFL Corp for two LNG dual-fuel 7,000 CEU PCTCs for delivery in 2029. SFL disclosed in late August that it had committed $363m to order four vessels of that size and specification without naming the yards. Two were signed with Guangzhou Shipyard International at SMM, and the other two will be built by Yantai CIMC Raffles. SFL is a familiar customer, having previously taken four LNG dual-fuel 7,000 CEU PCTCs from the same yard, delivered between 2023 and 2024.
The car carrier segment has been one of the tighter corners of the newbuilding market for several years, and the specification is now settling. LNG dual-fuel propulsion has become close to the default for new deepsea PCTC tonnage, which reflects both the compliance horizon and the fact that vehicle shippers are among the more emissions-sensitive cargo owners in the market.
The orders also illustrate where the capacity is. Chinese yards have absorbed the bulk of PCTC contracting through this cycle while Korean builders concentrate on gas carriers and larger box ships, and the group's overall position is set out in the CSSC half-year results, which show 729 undelivered vessels on the books at the end of June.
