Swiss commodities trader Mercuria Energy Group has resumed shipbuilding at Chinese shipyards, adding six new oil tankers of two different types to its order book, with a total investment exceeding $600 million.
According to TradeWinds, Mercuria has once again partnered with Dalian Shipbuilding Industry Corporation (DSIC), a subsidiary of China State Shipbuilding Corporation, to place an order for up to four Very Large Crude Carriers (VLCCs) and two LR2 product tankers. The new vessels are expected to be delivered in 2029.
According to a shipbroker, the construction cost of a single VLCC is approximately $123 million, with the four vessels having a total value of about $492 million; the construction cost of a single LR2 product tanker is approximately $75 million, with the two vessels having a total value of about $150 million. The total value of this order is approximately $642 million.
If the order for six Type 2 oil tankers mentioned above is confirmed, it will mark another collaboration between DSIC and Mercuria in 2026, bringing the total number of vessels to be built under their partnership to 8+2, with a contract value of approximately $930 million.
On January 16, DSIC announced that it had signed an order with a European shipowner for 2+2 114,000 DWT product tankers. According to market reports, the order was placed by Mercuria, with the disclosed unit price at approximately $72 million per vessel, bringing the total value of the four vessels to approximately $288 million.
It is worth noting that the first batch of two 114,000 DWT product tankers DSIC has taken on from Mercuria marks the shipyard’s first order since the start of the 15th Five-Year Plan. With this order, DSIC now leads all global shipyards in the number of 110,000 DWT product and crude oil tankers currently under construction.
In addition to DSIC’s newbuilding project, Mercuria reportedly placed an order in 2026 with Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (Nantong Xiangyu SOE) for a 2+2 series of 211,000 DWT Newcastlemax bulk carriers, with each vessel costing approximately $77.5 million and scheduled for delivery in mid-2028.
According to available information, Mercuria was founded in 2004 by Marco Dunand and Daniel Jaeggi. It is one of the world’s top five independent energy traders, headquartered in Geneva, Switzerland, and currently owns approximately 40 vessels, the vast majority of which are VLCCs. The group has historically supported new ship investments through long-term charter agreements rather than direct ownership.
So far this year, DSIC has been actively pursuing new orders in the tanker market. Excluding the six new vessels recently announced by Mercuria, the company has secured orders for 15+2 new vessels, including 10 VLCCs, 2 LR2 product tankers, 1 hybrid shuttle tanker, and 2+2 114,000 DWT product tankers.
As an important shipbuilding base under China State Shipbuilding Corporation, DSIC has formed an overall layout of “one headquarters and three bases”. The headquarters is located in Dalian and serves as the research and development, marketing and management center. The three bases are the Dalian base, the Tianjin base and the Shanhaiguan base, covering a total area of approximately 12 million square meters, with 19 dry docks, 8 slipways and 18.4 kilometers of outfitting wharves.