A wholly-owned subsidiary of Tianshun Wind Energy has signed 2+2 construction contracts for 113,800 DWT crude oil tankers with a subsidiary of a well-known international shipowner. The total contract value is approximately 1.874 billion yuan, with the two firm vessels valued at about 937 million yuan and the two optional vessels also valued at about 937 million yuan. The vessels will be delivered in batches between 2028 and 2029. This signing marks the company's first undertaking of crude oil tankers, a mainstream high-end offshore engineering vessel type, further refining its dual-core offshore engineering business layout in offshore wind power equipment and oil and gas vessels. The contract has a long execution period and will not have a significant impact on current profits, but is expected to positively affect the company's future revenue and profits.
Titan Wind Energy SuzhouSubsidiary signs 2+2 crude oil tanker construction contracts worth ~1.874 billion yuan, expanding into new vessel type and boosting future revenue.