the Chinese shipbuilding industry, Nantong Xiangyu Shipbuilding & Offshore Engineering has inked a construction agreement with Xiamen Jinxian and COSCO Shipping Bulk for the production of eight 64,000 deadweight ton (dwt) methanol-ready bulk carriers. The deal, which underscores China's growing presence in the maritime sector, aims to enhance vessel efficiency and environmental sustainability.

According to Nantong Xiangyu Shipbuilding, the newly commissioned vessels are set to feature increased load capacity and reduced fuel consumption compared to their counterparts both domestically and internationally. These advancements align with the industry's ongoing efforts to adopt greener technologies and mitigate environmental impact. However, specific financial terms of the agreement remain undisclosed.

With this latest contract, Nantong Xiangyu Shipbuilding further solidifies its position as a key player in the construction of ultramax ships, surpassing a total order volume of 100 units. This milestone underscores the shipyard's continued commitment to innovation and excellence in vessel manufacturing.

The construction of methanol-ready bulk carriers signifies a strategic shift towards alternative fuels in the maritime industry, reflecting China's broader initiatives to promote sustainability and reduce carbon emissions. As demand for eco-friendly shipping solutions grows, such partnerships and construction deals are expected to drive further advancements in vessel technology and operational efficiency.