Chinese yard Hengli Heavy Industries has secured a contract with a European shipowner for up to four very large crude carriers (VLCCs), in a deal valued at about $470m.
The order, widely linked in the market to John Fredriksen’s tanker giant Frontline, covers 306,000 dwt newbuilds priced at around $118m each. Hengli did not disclose the buyer, delivery schedule or contract details but described the client as a “well-known European shipowner” and said the transaction highlights its “exceptional ability” in shipbuilding.
“Gaining recognition from renowned European shipowners serves as the best testament to Hengli Heavy Industry’s technical prowess and product quality,” the company said.
The VLCCs, designed in-house by Hengli’s Ship Design and Research Center, will measure 332.8 m in length, 60 m in beam and 30 m in depth, with a service speed of 14.5 knots. The yard said the design complies with the latest international regulations, incorporating higher energy efficiency and lower carbon emissions.
The contract comes just months after Hengli delivered its first self-developed VLCC, the Aliakmon I, in June. The 306,000 dwt tanker was built for its parent company, Hengli Group, which has ordered a series of VLCCs with the option of reselling them to external buyers and is now listed under Greece’s Dynacom Tankers.
Clarksons data shows Hengli Group has 13 VLCCs on order at the Dalian yard for delivery between 2026 and 2028, including the four units now tied to Frontline. Frontline’s involvement is understood to be via resales of VLCCs originally contracted by Hengli Group, which has been expanding into large crude carrier construction since 2023.
