John Fredriksen Expands Fleet with New VLCC Orders from Hengli Shipbuilding
Shipping magnate John Fredriksen has made a significant move in the maritime industry by contracting two very large crude carriers (VLCCs) from Hengli Shipbuilding in China. This latest order, placed through Fredriksen’s investment arm, Seatankers Management, underscores his commitment to renewing and expanding his fleet. The contracts, confirmed by Chinese-listed ST Songfa, involve the construction of two 306,000 deadweight tonnage (dwt) vessels at the Dalian-based shipyard, with expected delivery in the latter half of 2028.
The financial implications of this deal are noteworthy, with estimates placing the total value of the contracts between $200 million and $300 million. This translates to a price range of approximately $100 million to $150 million per vessel. This order marks one of the first publicly disclosed newbuilding contracts for Hengli Heavy Industries since the start of 2026, following a remarkable year in which the yard secured 115 newbuildings valued at over $14 billion.
Hengli Shipbuilding’s Growing Reputation in the VLCC Market
Fredriksen’s interests in the tanker sector are closely tied to Hengli Shipbuilding, which has become a key player in the VLCC market. Frontline, another company associated with Fredriksen, has already announced plans to acquire six VLCCs built by Hengli as part of a broader nine-ship newbuilding package. This collaboration highlights the growing reliance on Hengli’s capabilities within Fredriksen’s shipping ventures.
Hengli’s VLCC design boasts impressive specifications, featuring a hull length of 332.8 meters, a beam of 60 meters, and a depth of 30 meters. The vessels are designed to achieve a service speed of 14.5 knots, while also adhering to the latest efficiency and emissions standards. This focus on modern design and environmental compliance positions Hengli as a competitive force in the shipbuilding industry.
The Dalian shipyard has rapidly established a robust order book in the VLCC segment, with numerous crude carriers on order for various owners, including Idan Ofer’s Eastern Pacific Shipping, Evangelos Marinakis’ Capital Group, and George Economou’s TMS Tankers. This growing list of clients cements Hengli’s status as one of the busiest VLCC builders in the market, further enhancing its reputation for quality and reliability in ship construction.
Capital Maritime Expands Fleet with New Shipbuilding Contracts in China
John Fredriksen’s latest contracts with Hengli Shipbuilding not only signify a strategic expansion of his fleet but also reflect the shipyard’s rising prominence in the global maritime industry. As the demand for efficient and environmentally friendly vessels continues to grow, Hengli’s innovative designs and Fredriksen’s investment strategy are likely to play pivotal roles in shaping the future of shipping.
