Mercuria lines up fleet growth at Chinese yards

Mercuria Energy Group, a prominent Swiss commodity trader and shipowner, is significantly expanding its shipping fleet with new contracts in China. The Geneva-based company has secured deals for up to four Newcastlemax bulk carriers and two Aframax/LR2 tankers, marking a strategic move to enhance its presence in the dry bulk and tanker markets. These vessels are expected to be delivered in 2028, with substantial investments involved in each order.

Details of the New Orders

According to industry brokers, Mercuria has placed orders for two firm Newcastlemax bulk carriers at Nantong Xiangyu Shipbuilding, with options for an additional two vessels. Each of these 211,000 deadweight tonnage (dwt) bulkers is priced at approximately $77.5 million. This order is part of Mercuria’s broader initiative to renew and expand its fleet in the dry bulk sector. Last year, the company added at least four secondhand Capesize bulkers, further solidifying its position in this competitive market.

In addition to the bulk carriers, Mercuria has also contracted two 115,000 dwt tankers from Dalian Shipbuilding Industry Co (DSIC), also scheduled for delivery in 2028. These tankers are reported to cost around $72 million each, representing another step in Mercuria’s strategy to diversify its shipping operations. The company has traditionally favored long-term charter agreements over direct ownership for newbuilding exposure, which allows for greater flexibility in fleet management.

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Founded in 2004 by Marco Dunand and Daniel Jaeggi, Mercuria currently operates a fleet of approximately 40 vessels. Beyond the recent orders, the company has additional Very Large Crude Carriers (VLCCs) and LR1 and MR tankers on order, with deliveries anticipated in 2027. This latest expansion underscores Mercuria’s commitment to enhancing its capabilities across various shipping markets.