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On May 10, Inner Mongolia Junzheng Energy & Chemical Group Co., Ltd. (Junzheng) made public an announcement regarding its investment in the construction of chemical tankers by its wholly-owned subsidiary. The declaration revealed that on the aforementioned date, SC International FZE and JZ Logistics Holding (Overseas), subsidiaries of Junzheng Group, finalized contracts with Wuchang Shipbuilding Industry Group Co., Ltd (“WS”), an affiliate of China Shipbuilding Industry Corporation. These contracts entail the construction of 25,900 DWT chemical tankers, totaling five vessels.

One of these agreements between SC International FZE and WS encompasses a ship construction option, allowing for the reservation of orders for up to five identical chemical tankers. Junzheng Group holds the discretion to exercise this option based on actual circumstances. The collective cost of the aforementioned tankers, inclusive of taxes, is not to exceed RMB 3.2 billion. Delivery of these new vessels is anticipated to occur sequentially over a span of 2-4 years, ranging from 2026 to 2028, with classification by the American Bureau of Shipping (ABS) under the Hong Kong flag. Junzheng Group emphasizes that this investment will enhance its fleet structure, expand fleet size, bolster its standing, and fortify its capacity for sustainable development in liquid chemical shipping services. Moreover, it anticipates an augmentation of competitiveness in the international market, aligning seamlessly with its strategic developmental blueprint.