On January 22, *ST Songfa, the listed entity of Hengli Heavy Industries, issued an announcement stating that the construction contracts for two vessels of its subsidiary Hengli Shipbuilding (Dalian) Co., Ltd. (“Hengli Shipbuilding”) were recently signed and came into effect.
The announcement disclosed that Hengli Shipbuilding recently signed a contract with a single-vessel company under Eastern Pacific Shipping Pte. Ltd. (“EPS”) for the construction of two 306,000 DWT Very Large Crude Carriers (VLCCs). The contract is worth approximately US$200-300 million and is scheduled to be delivered successively in the second half of 2028. The payment method is to pay in installments in US dollars.
It is understood that the 306,000 DWT VLCC represents the international mainstream large crude oil carrier type, featuring high cargo capacity, strong endurance, and operational efficiency. This vessel type is designed to balance route adaptability and loading flexibility, enabling efficient compatibility with loading/unloading equipment at major global crude oil ports. It meets the demands of transoceanic long-distance trunk line crude oil 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 international shipping market’s requirements for large-scale, low-carbon transportation.
EPS is one of the world’s largest privately owned shipping companies, with over 60 years of development history dedicated to advancing the shipping industry toward green and technology-driven development. Headquartered in Singapore, it employs approximately 7,000 people, including seafarers and shore-based teams, and operates and manages 348 vessels with a total deadweight tonnage exceeding 30 million tons. Its fleet encompasses a diverse range of vessel types, including container ships, tankers, dry bulk carriers and gas carriers.
It is reported that this is the third new shipbuilding contract announced by Hengli Heavy Industries since the start of 2026.
On January 14, *ST Songfa announced the signing of a contract for two 306,000 DWT VLCCs from Frontline, a subsidiary of Norway’s Seatankers Management. The vessels are scheduled for delivery in the second half of 2028.
On January 15, Hengli Shipbuilding signed a contract with Greece’s Dynacom Tankers for the construction of four 306,000 DWT VLCCs, with a total contract value of approximately $400 million to $600 million. Delivery is scheduled for the second half of 2028. The company also signed a contract with a renowned European shipowner for one 114,000 DWT LR2 crude/product tanker, slated for delivery in the second quarter of 2027.