Since restarting its shipbuilding business in the fourth quarter of 2022 and going into full production in early 2023, Hengli Heavy Industries, backed by Hengli Group, has ignited the global new shipbuilding market with strong momentum. Orders for multiple vessel types—including container ships, bulk carriers, and oil tankers—have flourished across the board.
According to an official WeChat post by Hengli Group, on December 29th, Hengli Heavy Industries secured its final major contracts of 2025. The company successfully signed shipbuilding contracts with Greek shipowner Capital Ship Management for 2 Very Large Crude Carriers (VLCCs) and 4 Capesize bulk carriers. Additionally, it signed a contract with a renowned Norwegian shipowner for the construction of 1 Suezmax tanker.
With this, Hengli Heavy Industries had secured orders for 115 vessels in 2025, with total contract value exceeding RMB 100 billion, achieving a strong finish to the year. Notably, all new shipbuilding projects at Hengli Heavy Industries utilize Hengli’s main engines. To date, over 70 Hengli’s engines, have been delivered, including the successful delivery of the first dual-fuel engine on October 28, 2025.
According to a recent announcement by *ST Songfa, the listed entity of Hengli Heavy Industries, six new vessels ordered by Greece’s Capital are expected to be delivered between the second half of 2027 and 2028. The total contract value ranges from $400 million to $600 million, with the VLCCs having a deadweight tonnage of 306,000 tons. The contract for one Suezmax tanker ordered by a Norwegian shipowner is valued at approximately $80 million to $100 million, with delivery scheduled for the first quarter of 2029. The vessel will have a deadweight tonnage of 158,000 tons.
According to the above announcement, the 306,000 DWT VLCC contracted represents an internationally mainstream large crude oil carrier design, characterized by substantial cargo capacity, extended operational range, and high operational efficiency. This vessel type is engineered to balance route adaptability with loading flexibility, enabling seamless compatibility with loading/unloading facilities at major global crude oil ports. It is capable of fulfilling long-distance transoceanic crude oil trunkline transportation requirements as well as large-scale transport needs from major oil fields to refineries.
Capesize bulk carriers serve as the core vessel type in the international dry bulk shipping market, offering significant economies of scale, robust endurance, and superior economic efficiency. Their design deeply integrates route versatility with cargo adaptability, enabling seamless compatibility with loading and unloading facilities at major global bulk cargo ports. These vessels fully meet the transoceanic trunkline transportation demands for dry bulk commodities such as iron ore and coal.
The 158,000 DWT Suezmax oil tanker represents the international mainstream design for large crude carriers, featuring high deadweight capacity, low fuel consumption, and outstanding environmental performance. It embodies the latest global design concepts for crude carriers and meets the most current environmental regulations.
It is understood that Hengli Heavy Industries and Greek Capital have signed orders for multiple new vessels this year. Including the shipbuilding projects in October (the first cooperation) and December, there are a total of 9 vessels of 3 types, namely 3 VLCCs, 4 bulk carriers and 2 LR2 product tankers.
The order from the Norwegian shipowner has opened up new business growth opportunities for Hengli Heavy Industries in the Suezmax tanker market, demonstrating the company’s diversified development capabilities and strong market appeal in the shipbuilding sector. Hengli Heavy Industries stated that it will continue to provide high-quality green vessels for global oil trading and tanker owners worldwide.
In 2025, the global shipping market presented a complex landscape marked by both recovery and transformation. As demand for oil and bulk commodity transportation surged, Hengli Heavy Industries astutely identified market opportunities for key vessel types such as VLCCs, Capesize bulk carriers, and Suezmax tankers, securing multiple major orders in these sectors.
The successful conclusion of this year’s final major order for seven vessels not only demonstrates Hengli Heavy Industries’ formidable capabilities in shipbuilding but also marks a significant breakthrough in its strategic expansion within the shipping market.