(Yicai) Jan. 18 -- SAIC Group's first cargo vessel for cars has embarked on its maiden voyage, with China’s biggest automaker intending to add 13 more to its fleet over the next three years in response to fast-growing Chinese vehicle exports and skyrocketing ship leasing fees.

“As China's largest auto exporter, SAIC has long felt the pressure of insufficient capacity and the necessity of owning a fleet of pure car carriers,” Jin Qi, general manager of SAIC Anji Logistics told reporters yesterday.

The addition of the SAIC Anji Sincerity, the world's largest liquefied natural gas dual-fuel roll-on/roll-off vehicle carrier, brings the number of vessels owned by the unit of the state-owned automaker to 31. The vessel, which set sail for Europe yesterday, is also carrying vehicles produced by two other Chinese brands.

By the end of 2026, Shanghai-based SAIC Group plans to have 14 ocean-going car carriers, costing an average of about USD100 million each. It decided two years ago to start buying ships to ensure the security of its own supply chain, cut transportation costs, and shorten detention times in port, Jin said.

Other Chinese carmakers have also begun building their own cargo vessels. BYD’s first ro-ro ship embarked on its maiden voyage just two days ago. The Shenzhen-based company plans to add another seven in the next two years.

Overseas markets are expected to become increasingly important to SAIC. The firm exported 1.2 million cars last year, so this year's target is almost 1.4 million, and next year it will be more than 1.5 million, Zhao Aimin, deputy general manager of SAIC International, told Yicai. SAIC is also planning to expand its production capacity abroad.

Chinese shipowners make up more than a fifth of global orders for car carriers, according to a research report by Clarksons. After they are delivered, the capacity of China‘s pure car carrier fleet should rank fourth in the world, just behind Japan and South Korea, two big car-exporting countries, and Norway, whose major shipowners are not automakers.

Editors: Tang Shihua, Emmi Laine