Recently, Hengli Heavy Industries has been active in the new shipbuilding market, announcing multiple shipbuilding contracts in succession. Information regarding the shipowners is now gradually being disclosed.
Three Kamsarmax bulk carriers
Recently, Hengli Heavy Industries announced the signing of 20 Kamsarmax bulk carriers within a week, with the identity of another shipowner for this new series of vessels now disclosed.
Greek shipowner Oceanbulk Maritime has placed an order with Hengli Heavy Industries for three 82,000 DWT bulk carriers, with deliveries scheduled between the second and fourth quarters of 2027. The order price remains undisclosed. Referencing another order for bulk carriers of the same specifications recently announced by Hengli Heavy Industries for another Greek shipowner, EFNAV, the estimated cost per vessel is approximately $37 million.
In early November, Hengli Heavy Industries announced the signing of 10 Kamsarmax bulk carriers with three prominent European shipowners, though the identities of the shipowners and the exact order volume were not disclosed at the time. Market sources later revealed that four of the vessels were ordered by Greece’s Star Bulk, with the order including two option vessels. The newbuilds are specified at 85,000 deadweight tons.
With the disclosure of three new vessels from Oceanbulk Maritime, three of Hengli Heavy Industries’ ten new vessels remain undisclosed in terms of shipowner information.
According to public records, Oceanbulk Maritime is a privately held shipping company headquartered in Athens, Greece. Founded in 1989 by renowned shipowner Petros Pappas, it is currently jointly owned by Petros Pappas and other investors. In recent years, the company has been shifting its business focus from traditional bulk cargo transportation toward diversifying its shipping operations.
Two VLCCs
In addition to securing orders for multiple bulk carriers, Hengli Heavy Industries has also secured dozens of new orders for very large crude carriers (VLCCs) in the past two months.
Shipbrokers report that Cypriot shipowner Seatankers has placed an order with Hengli Heavy Industries for two 306,000 DWT VLCCs. The cost of the vessels remains undisclosed, with delivery expected by the end of 2028.
Recently, *ST Songfa, the listed entity of Hengli Heavy Industries, announced via a public notice that it had secured orders for two VLCCs. At that time, it only disclosed that the orders originated from a prominent European shipowner. Based on current speculation, the shipowner for this order is likely Seatankers, with the total order value estimated at $200 million to $300 million.
Six LR2 product tankers
Additionally, Hengli Heavy Industries recently signed a contract with an internationally renowned shipowner for the construction of six 114,000 DWT LR2 product tankers. The order is valued at between $400 million and $600 million, with deliveries scheduled to commence in 2027. According to Greek media reports, the order was placed by Dubai-based Emarat Maritime.
According to information on Emarat Maritim’s official website, the company currently manages 19 vessels, primarily focusing on the Aframax/Panamax sector while maintaining its presence in the dry bulk market through its Ultramax/Supramax fleet.
Emarat Maritim last ventured into the newbuilding market in 2023 when it ordered six Ultramax bulk carriers from New Dayang Shipyard, all of which have now been delivered.
It is reported that the 114,000 DWT crude oil/product tanker ordered by Emarat Maritim represents an internationally mainstream medium-sized crude oil/product tanker design, featuring large loading capacity, ample cargo hold space, and green energy efficiency as its core characteristics.
This vessel design balances route adaptability with loading flexibility, enabling efficient compatibility with loading/unloading equipment at major crude oil ports worldwide. It meets the demands of transoceanic long-distance crude oil trunkline transportation and large-scale transport from major oil fields to refineries. As a crude oil carrier aligned with the latest international tanker design concepts, it fulfills the current global shipping market’s requirements for large-scale, low-carbon transportation.
*ST Songfa stated that this contract will enhance the company’s medium-to-long-term market competitiveness and profitability, further solidifying its competitive edge in the market.
According to incomplete statistics, with the announcement of the latest two new vessels, Hengli Heavy Industries has accumulated approximately 25 VLCC orders this year. Estimated at US$100-150 million per vessel, the total value reaches US$2.5-3.75 billion, with delivery scheduled between 2026 and 2028. In the mainstream bulk carrier and tanker markets, Hengli Heavy Industries secured 18+2 vessels in November alone.