Zodiac Maritime, owned by Israeli shipping magnate Eyal Ofer, has joined the latest wave of crude oil tanker orders. The shipowner has initiated a major shipbuilding program at a Chinese shipyard as a key component of its fleet renewal strategy.
British shipowner Zodiac Maritime has placed a major order with Jiangsu New Hantong Ship Heavy Industry: up to eight Very Large Crude Carriers (VLCCs) and six 9,000 TEU container ships, priced at $125 million and over $100 million per vessel respectively. The total cost for the 14 newbuilds across two types is approximately $1.6 billion (about RMB 11.3 billion). The first vessels are scheduled to begin delivery in the second half of 2028.
Industry insiders say the new VLCCs will have a capacity of 319,000 deadweight tons, and in terms of order size, there are two specifications being discussed in the industry: 6+2 vessels and 4+4 vessels. Including container ships, all 14 new vessels will be designed to use conventional fuels and will be equipped with the latest high-specification energy-saving technologies.
Given the uncertainty surrounding future fuel options, retaining traditional marine fuel propulsion systems combined with modern energy-saving technologies is a technical solution that many shipowners are currently keen to adopt.
Notably, this VLCC construction project with Jiangsu New Hantong Ship Heavy Industry represents Zodiac Maritime’s largest expansion in the large tanker sector in several years and its first VLCC order in over a decade. It also marks the first collaboration between the two parties in the newbuilding market. Should all option vessels be exercised, Zodiac Maritime’s VLCC fleet will double in size, solidifying its return to the premium tier of the tanker market.
The above 14 new vessels represent a significant component of Jiangsu New Hantong Ship Heavy Industry’s recent business expansion. On November 29, Jiangsu New Hantong Ship Heavy Industry announced it had secured orders for 19 new vessels in November. The newbuildings include 82,000 DWT bulk carriers, 211,000 DWT bulk carriers, 4,500 TEU container ships, and 319,000 DWT VLCCs, with deliveries scheduled primarily between 2028 and 2029. Multiple contracts include option vessels, with Zodiac Maritime’s order representing one of the largest orders for the shipbuilder.
Although Jiangsu New Hantong Ship Heavy Industry has not disclosed more details such as the shipowners and order sizes for each shipbuilding contract, according to previous reports, the shipowners of the 4500 TEU container ships include Norwegian company MPC Container (MPCC). MPCC announced in mid-November that it had signed a contract with Jiangsu New Hantong Ship Heavy Industry for 4+2 4500 TEU container ships, with a unit price of $58 million. Delivery is planned to begin in the first half of 2028, and the company has already secured a ten-year charter agreement (including renewal options).
Two VLCCs from Swiss commodities trader Trafigura are also included in Jiangsu New Hantong Ship Heavy Industry’s November order book. The collaboration between the two parties began in early 2024, and Trafigura has now signed contracts for 10 VLCCs, making it the largest VLCC order with the shipbuilder.
Jiangsu New Hantong Ship Heavy Industry announced that it secured multiple major orders for flagship ship types in November. This not only reflects the sustained growth in demand for newbuildings within the global shipping market but also underscores the comprehensive capabilities of the company in ship design, construction quality, and delivery cycles, which have earned widespread trust from leading international shipowners.