Daesang Corporation and Ningbo Penghong Shipbuilding Heavy Industry recently held a signing ceremony for a contract to build 157,000 DWT Suezmax oil tankers. Sources familiar with the matter revealed that the order is for 4+2 vessels.
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This order marks the second shipbuilding contract recently disclosed by Ningbo Penghong Shipbuilding Heavy Industry. On March 25, the shipbuilder announced that it had secured an order for one 1,056 TEU container vessel from Grand Marine Co., Ltd. (Grand Marine)—a subsidiary of Grand Marine International. The new vessel is scheduled for delivery in the first quarter of 2027.
It is worth noting that this earlier order for a feeder container vessel was significant for both the shipowner and the shipbuilder; not only does this new vessel mark Chonghang Shipping’s official entry into the shipping industry, but it is also the first project signed by Ningbo Penghong Shipbuilding Heavy Industry following the successful introduction of a state-owned strategic investor.
According to records, Ningbo Penghong Shipbuilding Heavy Industry Co., Ltd. was established in February 2025 with a registered capital of 353.97 million yuan. It is a shipbuilding company specializing in the construction of mainstream vessel types and small-to-medium-sized specialized vessels. In July 2025, Ningbo Penghong kicked off construction on a 25,900 DWT oil and chemical tanker, marking the shipbuilder’s first publicly announced project since its establishment.
Ningbo Penghong Shipbuilding Heavy Industry operates two 100,000-ton dry docks, a 400-ton gantry crane, an 80,000 m² block-building facility, and related supporting infrastructure. Its primary vessel types include various container ships ranging from 1,000 to 5,000 TEU, bitumen carriers, and 50,000 DWT MR product tankers. The company’s order book is currently scheduled through 2028.