Mercuria Energy Group Expands Fleet with Newbuilding Contracts in China
Swiss commodity trader and shipowner Mercuria Energy Group is significantly enhancing its maritime operations by securing newbuilding contracts in China. The Geneva-based company has committed to the construction of up to four Newcastlemax bulk carriers and two Aframax/LR2 tankers. This strategic move is part of Mercuria’s broader initiative to renew and expand its fleet across the dry bulk and tanker sectors.
The contracts for the Newcastlemax bulk carriers involve two firm orders for 211,000 deadweight tonnage (dwt) vessels at Nantong Xiangyu Shipbuilding, with options for two additional ships. These vessels are expected to be delivered in 2028, with each priced at approximately $77.5 million. This order reflects Mercuria’s ongoing efforts to strengthen its position in the dry bulk market, following the acquisition of at least four secondhand Capesize bulkers last year.
In addition to the bulk carriers, Mercuria has also signed contracts for two 115,000 dwt tankers at Dalian Shipbuilding Industry Co (DSIC), also scheduled for delivery in 2028. Each tanker is reported to cost around $72 million. This latest acquisition marks a significant step in Mercuria’s diversification strategy within the shipping industry, as the company seeks to broaden its operational capabilities across various maritime markets.
Mercuria’s Fleet Growth Strategy
Founded in 2004 by Marco Dunand and Daniel Jaeggi, Mercuria Energy Group has grown to control a fleet of approximately 40 vessels. Historically, the company has preferred to support newbuilding initiatives through long-term charter agreements rather than direct ownership. This approach allows Mercuria to maintain flexibility and manage risks associated with fleet operations.
In addition to the recent orders for Newcastlemax bulk carriers and Aframax/LR2 tankers, Mercuria has already placed orders for Very Large Crude Carriers (VLCCs) and LR1 and Medium Range (MR) tankers, with deliveries anticipated in 2027. This comprehensive fleet expansion underscores Mercuria’s commitment to enhancing its shipping capabilities and adapting to the evolving demands of the global maritime industry.
As the company continues to invest in new vessels, it aims to solidify its presence in the competitive shipping market while ensuring that it meets the growing needs of its clients. With these newbuilding contracts, Mercuria is poised to play a more significant role in the shipping sector, reinforcing its status as a key player in the global commodities trading landscape.
