Mercuria Energy Group, a Swiss commodities trader and shipowner, has re-entered the newbuild market, having publicly ordered 18 new vessels in 2026, all to be built by Chinese shipyards.
Mercuria Energy has placed an order for four new vessels of two different types with two Chinese shipyards, with a total construction cost of approximately $325 million, including two Suezmax tankers and two Newcastlemax bulk carriers, according to TradeWinds.
It was reported that the two newly ordered 157,000 DWT Suezmax tankers for Mercuria Energy are being built by Waigaoqiao Shipbuilding. Shipbrokers estimate the construction cost per vessel at approximately $85 million; based on this figure, the total cost for the two vessels is about $170 million. Delivery is expected in the first half of 2029.
This is not the first time Waigaoqiao Shipbuilding has secured a newbuild project from Mercuria Energy. In 2024, the two parties signed a contract for the construction of two 300,000 DWT Very Large Crude Carriers (VLCCs), which are scheduled for delivery in the first quarter of 2028. The cost per vessel is approximately $120 million, with a total cost of approximately $240 million for the two vessels. To date, Mercuria Energy has placed orders with the shipyard for four vessels across two types, with a total value of approximately $410 million.
In addition to the four newbuilds ordered from Takahashi Shipbuilding, Mercuria Energy has placed orders for tankers with Dalian Shipbuilding Industry Corporation (DSIC), Yangzijiang Shipbuilding, and China Merchants Shipbuilding Jinling Shipyard, covering VLCCs, LR2 product tankers, LR1 product tankers, and handysize chemical/product tankers. This series of orders demonstrates that Mercuria Energy is building a diversified tanker fleet.
Specifically, Mercuria Energy has placed an order with DSIC for four 307,000 DWT VLCCs and four 114,000 DWT LR2 product tankers. The LR2 product tankers are being built by DSIC’s subsidiary, Shanhaiguan Shipbuilding Industry Co., Ltd. (SHGSIC), and are expected to be delivered in 2029; Two 74,000 DWT LR1 product tankers, to be built by Yangzijiang Shipbuilding using conventional fuel, are expected to be delivered in 2027; the handysize chemical/product tankers will be constructed by China Merchants Shipbuilding Jinling Shipyard, with deliveries expected to begin in the third quarter of 2026.
In addition to expanding its tanker fleet, Mercuria Energy has placed an order with Nantong Xiangyu Shipbuilding & Offshore Engineering Co., Ltd. (Nantong Xiangyu SOE) for two 211,000 DWT Newcastlemax bulk carriers. The new vessels will be powered by conventional fuel, and shipbrokers estimate the construction cost per vessel at approximately $77.5 million. Based on this calculation, the total cost for the two vessels is approximately $155 million, with delivery expected in 2028.
Including the latest order for two bulk carriers, Mercuria Energy’s order book for large bulk carriers at Xiangyu Shipbuilding has increased to four vessels. The first two vessels were announced in early 2026, with delivery also scheduled for 2028. Sources indicate that the latest two vessels are alternatives to the “2+2” newbuild order placed earlier this year.
Nantong Xiangyu SOE currently focuses primarily on the construction of environmentally friendly and energy-efficient bulk carriers, oil tankers, and container ships with a deadweight tonnage of less than 100,000 tons, as well as small and medium-sized stainless steel and special-coating chemical tankers and other engineering vessels. In 2025, Xiangyu Shipbuilding officially entered the Newcastlemax bulk carrier market by securing a newbuild project from the Japanese shipowner Tohun Shipping, and currently holds orders for seven Newcastlemax bulk carriers.