Very Large Crude Carriers (VLCCs) have emerged as the hottest vessel type in the tanker market for January 2026. Beyond the 13+1 VLCCs already confirmed for orders this month, this sector is about to see the largest VLCC order so far this year.
According to TradeWinds, Dynacom Tankers Management, the tanker subsidiary of Greek shipping magnate George Procopiou, is finalizing a major shipbuilding contract with a Chinese shipbuilder.
Shipbrokers revealed that Dynacom has reached an agreement with Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corporation. The two parties will collaborate to build up to 12 VLCCs with a total value of approximately $1.44 billion (about RMB 10 billion). Based on this calculation, the cost per vessel is estimated at around $120 million, with delivery expected by 2028.
Notably, if this order is confirmed, it would mark Hudong-Zhonghua’s first venture into building VLCCs, as the shipyard currently focuses primarily on constructing LNG carriers and container ships. For instance, Hudong-Zhonghua has already secured orders for 4+2 174,000 cbm LNG carriers from Greek shipowner TMS Cardiff Gas for delivery in 2026. Additionally, Singapore’s Pacific International Lines is reportedly set to place an order for four 13,000-TEU LNG dual-fuel container ships with Hudong-Zhonghua.
It is worth noting that if this order is confirmed, it will be the first time Hudong-Zhonghua has undertaken the construction of VLCCs. Hudong-Zhonghua currently mainly focuses on building LNG carriers and container ships. For example, Hudong-Zhonghua has already secured an order for 4+2 174,000 cbm LNG carriers from Greek shipowner TMS Cardiff Gas for delivery in 2026; Singapore-based Pacific International Lines is also reportedly ordering four 13,000 TEU LNG dual-fuel container ships from Hudong-Zhonghua.
In terms of order value, Dynacom’s order for 12 VLCCs is the second multi-billion dollar deal announced by the Chinese shipbuilding industry in 2026. The first multi-billion dollar order this year was awarded to Jiangnan Shipyard, which is responsible for building 12 18,000 TEU LNG dual-fuel container ships for COSCO Shipping Lines. Each vessel has a contract price of 1.399 billion yuan, totaling RMB 16.788 billion.
For shipowner Dynacom, the addition of this batch of VLCCs from Hudong-Zhonghua will increase its VLCC order book to nearly 30 vessels. The remaining orders are being built by Hengli Heavy Industries, Dalian Shipbuilding Industry Corporation (DSIC), and New Times Shipbuilding. For example, a single-ship company under Dynacom recently placed an order with Hengli Heavy Industries for four 306,000 DWT VLCCs, with a contract value of $400-600 million, expected to be delivered in the second half of 2028.