Eastern Pacific signs for suezmaxes at Hengli Heavy

Eastern Pacific Shipping (EPS) has finalized a significant agreement with China’s Hengli Heavy Industry to acquire up to four suezmax tankers. Based in Singapore and led by Idan Ofer, EPS has secured two firm contracts for 158,000 dwt crude carriers, with options for an additional two ships. The total estimated value of this deal approaches $360 million, with the confirmed vessels expected to be delivered in the first half of 2028.

Commitment to Sustainability and Fleet Expansion

The newly ordered tankers will feature advanced dual-fuel propulsion systems, enabling them to operate on liquefied natural gas (LNG). This move aligns with Eastern Pacific’s ongoing commitment to enhancing sustainability across its fleet by reducing emissions. The decision to invest in modern, eco-friendly vessels reflects the company’s strategy to adapt to evolving environmental regulations and market demands.

Ship registry and 105 vessels among entities listed in EU’s

Hengli Heavy Industry, the shipbuilder, noted that this order is part of a larger acquisition plan, which encompasses a total of ten vessels across various types, including bulk carriers, tankers, and containerships. This diversification indicates a robust demand for new shipping capacity in multiple sectors.

Notably, this order marks a return for Eastern Pacific to the suezmax market after a hiatus since early 2024. The renewed interest suggests confidence in the future of this segment and a strategic pivot towards expanding their operational capabilities in the crude oil transportation market.