X-Press Feeders, a Singapore-based liner shipping company and operator, is repositioning itself in the tanker market and has partnered with an Israeli shipowner to place an order for up to six crude oil tankers with a Chinese shipyard.
According to TradeWinds, X-Press Feeders is partnering with Israeli shipowner XT Shipping to order up to six 157,000 DWT Suezmax tankers from Penglai Zhongbai Jinglu Ship Industry Co., Ltd. (Jinglu Shipyard), with a total contract value of approximately $480 million and a unit price of about $80 million per vessel. Market sources indicate that the order is structured as 3+3 vessels, with the earliest delivery expected by the end of 2028.
It is worth noting that, if confirmed, this order would mark Jinglu Shipyard’s first Suezmax tanker project; the shipyard has previously focused on building MR product tankers, chemical tankers, bulk carriers, and container ships. This Suezmax tanker order represents another major breakthrough for the shipyard in the shipbuilding sector.
At the same time, this order marks X-Press Feeders’ return to the tanker market after several months. In July 2025, the company’s tanker subsidiary, Eastaway, sold the LR2 tanker “Hesperia Tide” to New Shipping—a private shipping company owned by Greek shipowner Adam Polemis—for approximately $71 million, thereby exiting the tanker shipping business.
In addition, XT Shipping, in partnership with X-Press Feeders, has officially entered the large tanker market through this order for Suezmax tankers. The company currently operates more than 30 vessels, including container ships and chemical tankers. Regarding newbuild orders, XT Shipping previously placed orders for six container ships of two different types with Hengli Heavy Industries and China Merchants Shipbuilding Industry Weihai Shipyard in 2025, with delivery expected by 2028.
So far this year, driven by factors such as disruptions to shipping through the Strait of Hormuz and the severe aging of Suezmax tankers, newbuilding orders in the tanker sector have surged. According to Clarksons data, the global orderbook for Suezmax tankers now stands at nearly 200 vessels.
According to records, X-Press Feeders was founded in 1972 and has since grown into the world’s largest independent feeder container shipping company. It does not own, lease, or operate containers; instead, it provides transportation services exclusively to container operators. The company does not carry its own cargo nor does it serve general shippers. The company operates a fleet of over 100 vessels, with container capacities ranging from 700 TEU to 7,000 TEU. Its well-balanced and comprehensive fleet configuration enables it to meet the transportation needs of various types of cargo.
Jinglu Shipyard is a large, state-controlled modern shipbuilding and repair enterprise specializing in the manufacture of ships and offshore engineering equipment. It covers a total area of 1.8 million square meters and has an annual production capacity of 1 million deadweight tons.
Jinglu Shipyard operates one 300,000-ton dry dock, as well as one 35,000-ton, one 10,000-ton, and one 5,000-ton floating dock. The shipyard features approximately 3,000 meters of outfitting quays and is fully equipped with specialized shipbuilding facilities, including 1,000-ton and 500-ton shipbuilding gantry cranes. In terms of ship repair and construction, the facility is capable of undertaking repair and conversion projects for all types of vessels under 200,000 tons.