Global Tanker Plans $46.52 Million Shipbuilding Project in China

Global Tanker’s (CTCP Global Tanker) board approved a feasibility study for a new oil and chemical tanker project on November 11, 2026. The company plans to build a roughly 45,000 deadweight ton (DWT) product tanker at a shipyard in China in 2027–2028. Total investment is estimated at $46.52 million, or about VND 1.233 trillion at a provisional exchange rate.

Global Tanker plans to build a new oil and chemical tanker of roughly 45,000 DWT in China.（VietVance）

The shipbuilding contract is expected to cost $45 million, equivalent to about VND 1.1925 trillion. Loan interest is estimated at VND 38.9 billion, while other expenses, including surveys, vessel delivery, fees and legal services, are estimated at VND 1.33 billion. The company plans to finance 70% of the shipbuilding contract, or $31.5 million, through bank loans, with the remaining funds coming from its own capital and proceeds from a share issue.

The board-approved feasibility study projects an internal rate of return of about 15.1% per year and a payback period of about six years and one month. The board has tasked Chairman Nguyễn Tiến Dũng with finding a shipbuilding partner and advancing contract negotiations. Shareholders previously approved a plan on April 24, 2026, to purchase or build a 45,000–50,000 DWT oil and chemical tanker during 2026–2028.

Global Tanker shares have traded on the UPCoM market since September 11, 2026. The company had seven employees as of September 30, 2026. In the first nine months of 2026, net revenue was VND 551.5 billion, up 1.8% year on year, while pretax profit reached VND 250.8 billion, 5.3 times the year-earlier figure. Asset disposals accounted for much of the profit increase: other income totaled VND 189.6 billion during the period. The company said it disposed of fixed assets in April to restructure its fleet.

Global Tanker disclosed its operating results for the first nine months of 2026 and financial data as of September 30.（VietVance）

As of September 30, 2026, the company’s total assets stood at VND 1.1062 trillion, up 36.6% from the start of the year. Construction in progress totaled VND 657 billion and involved plans to build two 13,100 DWT oil and chemical tankers and one 7,500 DWT vessel. Total liabilities stood at VND 473.5 billion, including VND 304.5 billion in long-term borrowings and finance lease liabilities.

Source: VietVance