Hengli Heavy Industries announced that Greek shipping giant Dynacom recently signed another contract with Hengli Heavy Industries for the construction of eight new vessels, including Very Large Crude Carriers (VLCCs) and 93,000 m³ Very Large Ammonia Carriers (VLACs), with a total value of nearly $1 billion.
Following this signing, the total number of new vessels built by Hengli Heavy Industries in collaboration with Dynacom has exceeded 50, encompassing VLCCs, VLACs, Suezmax tankers, Kamsarmax bulk carriers, and other vessel types. Dynacom has become one of Hengli Heavy Industries’ most important global strategic partners.
Notably, the VLAC orders included in this new shipbuilding project represent a “repeat purchase” order between Hengli Heavy Industries and Dynacom. In July 2026, Dynacom had already placed an order with Hengli Heavy Industries for two 93,000 m³ VLACs, marking the shipowner’s first entry into the VLGC/VLAC market. Each vessel is estimated to cost approximately $115 million and is expected to be delivered in 2028.
Just two months later, Dynacom placed an additional order with Hengli Heavy Industries, signaling the shipowner’s recognition of Hengli Heavy Industries’ VLAC construction capabilities.
It is understood that the partnership between Dynacom and Hengli Heavy Industries began with an order for Kamsarmax bulk carriers in 2023. Since then, the collaboration has progressed step by step along the “bulk carrier → VLCC → VLAC” technological ladder: in 2024, the first VLCC, the “ALIAKMON I,” was named and delivered, and in 2026, VLCC orders were successively expanded to 20 vessels; In July 2026, the first VLAC order was finalized.
To date, Hengli Heavy Industries has delivered two 306,000 m³ VLCCs and 13 82,000 m³ bulk carriers to Dynacom; upon entering service, all vessels have demonstrated performance metrics that meet international advanced standards.
Among the newbuilding projects signed between Dynacom and Hengli Heavy Industries, the VLAC class is particularly noteworthy. Previously, Dynacom’s liquefied gas vessel business was highly concentrated in the (LNG carrier sector, operated through the U.S.-listed company Dynagas LNG Partners, with all vessels built by South Korean shipyards. The decision to award both the inaugural VLAC order and subsequent orders to Hengli Heavy Industries marks a shift in the shipowner’s gas transportation strategy from a “single-line LNG” approach to a multi-line strategy encompassing “LNG + LPG + liquid ammonia.”
Hengli Heavy Industries stated that if the VLAC project is successful, the shipowner’s subsequent orders for LPG carriers and liquid ammonia carriers will most likely continue to be awarded to Hengli Heavy Industries. “Dynacom’s technical review team has already determined that Hengli Heavy Industries’ VLAC construction capabilities are ‘reliable.’”