JP Morgan-Controlled NOCC Adds Two Car Carriers for China Trade

Norwegian Car Carriers (NOCC), the Norwegian shipping company controlled by JP Morgan, has ordered two new car carriers at the Chinese shipyard CIMC Raffles. These are 7,100 CEU vessels identified as Hull 641 and Hull 642, powered by LNG dual-fuel engines, bringing the company's orderbook with that builder to double its previous size.

According to iMarine data cited by Xinde Marine News, deliveries of the two new vessels are scheduled for March and June 2030, while NOCC's website confirms the year but not the exact months. With these two units, the identifiable program on NOCC's fleet list rises to six vessels, two of which have already been delivered: NOCC Pacific, which entered service in 2025, and NOCC Adriatic, delivered by CIMC Raffles on January 20, 2026 from its Longkou yard in Shandong province, 70 days ahead of the original contractual schedule. The remaining two vessels of the initial series, NOCC Kattegat and NOCC Skagerak, are scheduled for 2027; according to Schulte Marine Concept, which oversees construction, the fourth vessel in the series is set for delivery in June 2027.

Sources differ on the actual scope of the latest expansion. While NOCC's website and iMarine reports identify only two additional hulls (641 and 642), Shippax reported on October 8 that the company had actually contracted four more sister vessels, with staggered deliveries between 2030 and early 2031. Shipbuilding industry databases consulted by Splash also show two further hulls, 651 and 652, assigned to NOCC for 2030 and 2031, though these were not confirmed by the company and could correspond to options linked to the contract. Splash also noted that the relationship with CIMC Raffles had already produced a fourth vessel in the original series, contracted in late 2025, following an initial pair signed in 2024 and a subsequent third unit.

NOCC has been controlled by a vehicle advised by JP Morgan Global Alternatives since that investment entity bought out the stake of its former partner Klaveness Marine in 2023. The company operates as a tonnage provider, meaning it owns the vessels and charters them out to global and regional car carrier operators. According to Shippax, NOCC Pacific is chartered to Wallenius Wilhelmsen and NOCC Adriatic to EUKOR, while the charterers, charter rates and financing for the newly ordered vessels have not been publicly disclosed.

The contract price of NOCC's order with CIMC Raffles was not disclosed. As a benchmark for capital costs in this segment, Xinde Marine News cited a filing by SFL Corporation with U.S. regulators, in which the company reported having contracted, between May and August 2026, four 7,000 CEU LNG dual-fuel vessels for delivery in 2029, for an aggregate amount of approximately $363.1 million, equivalent to an average of $90.8 million per unit. SFL noted that two of those vessels already had long-term charter agreements with a major Asian automaker, while the other two would be chartered closer to their delivery.