CIMC Raffles Wins European Contract to Build Four Very Large Crude Carriers

CIMC Raffles, a subsidiary of the CIMC Group, recently finalized a contract with European shipping investment firm Bruton Ltd to construct four 319,000-deadweight-ton (DWT) Very Large Crude Carriers (VLCCs). This deal marks its foray into the market for very large crude carriers, and represents a significant milestone in the shipbuilder’s diversification strategy, further expanding its portfolio of high-end commercial vessels.

As the linchpin of global seaborne crude transport, VLCCs play a critical role in the world's energy supply chain. They are highly prized for their massive individual capacity, transport efficiency, and substantial economies of scale. However, constructing these behemoths presents a high barrier to entry, demanding robust shipyard infrastructure and sophisticated project management capabilities.

The new vessels will be constructed using the proven MARIC 319,000 DWT VLCC design. Each ship will measure approximately 330 meters in length and 60 meters in breadth, with a structural draft of 22.5 meters. Engineered to comply with international environmental regulations, the design strikes a careful balance between operational cost-effectiveness and energy efficiency. CIMC Raffles’ established expertise in serialized design and its robust batch-delivery systems are expected to ensure the high-quality delivery of the project.

Bruton Ltd, an Oslo-listed shipping investment company, is currently focused on building a modern fleet platform anchored by large tankers. Capitalizing on its specialized maritime management expertise and financial acumen, the firm has been steadily advancing its asset allocation in mainstream vessels, notably VLCCs.

A spokesperson for CIMC Raffles noted that the global VLCC market is entering a fresh wave of orders. By capitalizing on this industry momentum, the partnership with Bruton Ltd constitutes a major breakthrough for the shipbuilder in the VLCC segment and lays the groundwork for a stable, long-term relationship. Looking ahead, CIMC Raffles hopes to deepen its collaboration with Bruton Ltd on future fleet expansions and a broader array of vessel types, positioning both companies to seize emerging opportunities in the global shipping market and drive mutual growth.