CSSC Lands $1 Billion PCTC Order from Ray Car Carriers
China State Shipbuilding Corporation (CSSC) made a significant splash at SMM 2026 by securing major pure car and truck carrier (PCTC) orders. CSSC Holdings Limited, in a stock exchange disclosure issued on September 3, revealed that its subsidiary Guangzhou Shipyard International (GSI) had signed a newbuilding contract with an unnamed 'well-known' shipowner for 10 LNG dual-fuel PCTCs.
The contract is worth more than $1 billion and has deliveries scheduled between 2029 and 2031. According to shipbroking and market sources, Ray Car Carriers is the company behind the order, marking its first collaboration with CSSC.
GSI also signed a contract with SFL Corp for two LNG dual-fuel 7,000-CEU PCTCs, with deliveries scheduled for 2029. This deal comes after SFL disclosed in late August that it had committed $363 million to order four vessels of this size and specifications, without identifying the shipyards involved.
The resurgence of the PCTC newbuilding market has been driven by factors such as surging Chinese vehicle exports, stronger time-charter rates, and elevated secondhand vessel values.