Hengli Heavy seals deal for up to four VLCCs
Hengli Heavy Industries Secures Major VLCC Contract
Hengli Heavy Industries, a prominent Chinese shipyard, has clinched a significant contract with a European shipowner for the construction of up to four very large crude carriers (VLCCs). Valued at approximately $470 million, this deal underscores Hengli’s growing reputation in the shipbuilding sector. Although the specific buyer has not been disclosed, the order is believed to be linked to Frontline, a major player in the tanker industry.
Details of the Contract and Ship Specifications
The contract involves the construction of VLCCs, each with a deadweight tonnage (dwt) of 306,000, priced at around $118 million per vessel. While Hengli Heavy Industries has not revealed the delivery schedule or specific contract terms, the company emphasized that the client is a “well-known European shipowner.” This recognition from established European entities is seen as a testament to Hengli’s technical capabilities and the quality of its products.
The VLCCs will be designed by Hengli’s in-house Ship Design and Research Center. Each vessel will measure 332.8 meters in length, 60 meters in beam, and 30 meters in depth, with a service speed of 14.5 knots. The design adheres to the latest international regulations, focusing on enhanced energy efficiency and reduced carbon emissions, aligning with global sustainability goals.
This contract follows the recent delivery of Hengli’s first self-developed VLCC, the Aliakmon I, which was completed in June for Hengli Group. The parent company has plans for a series of VLCCs, which may be resold to external buyers. Currently, Hengli Group has 13 VLCCs on order at its Dalian yard, scheduled for delivery between 2026 and 2028, including the four units associated with Frontline. It is understood that Frontline’s involvement stems from resales of VLCCs originally contracted by Hengli Group, which has been expanding its capabilities in large crude carrier construction since 2023.
