U.S. banking giant JPMorgan is accelerating its new shipbuilding projects to meet strong market demand and has reportedly placed a bulk order for oil tankers with a Chinese shipyard.
Greek media, citing shipbroker sources, reported that JP Morgan has ordered 4+2 115,000 DWT oil tankers from Jiangsu Hantong Ship Heavy Industry Co., Ltd(HT). With a unit price of approximately $73.5 million, the total value of the six new vessels—including the options—is estimated at $441 million, with delivery expected in 2028.
JPMorgan declined to comment on this specific order, but the group revealed to a shipping media outlet that, driven by demand from charterers, it has placed orders for approximately 30 oil tankers and gas carriers over the past six months, with total expenditures exceeding $3 billion. For example, the order for one LNG carrier, two VLGCs, and two crude oil tankers announced by Samsung Heavy Industries in late May was linked to JPMorgan.
It is reported that JPMorgan Chase and its affiliates have not yet engaged in any shipbuilding cooperation with HT. If this order is confirmed, it will mark the first collaboration between the two parties in the new shipbuilding market, signifying a new breakthrough for HT in business expansion and a simultaneous expansion of JPMorgan Chase’s network of partner shipyards.
So far this year, the new shipbuilding projects announced by HT have primarily come from the tanker and bulk carrier markets, including 82,000 DWT and 210,000 DWT bulk carriers, as well as 114,000 DWT and 319,000 DWT tankers—all of which are the shipyard’s established ship types.