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Hengli Shipbuilding, a Chinese company specializing in luxury ship construction and marine engineering, has secured a contract for 10 large crude oil carriers, with an estimated value ranging from $700 million to $1 billion.
Based in Athens, Dynacom Tankers Management has placed an order for nine large crude oil tankers, each with a deadweight of 158,000 tons, from Hengli Shipbuilding. This information was announced yesterday by the parent company, Guangdong Songfa Ceramics. The remaining vessel, also of the same size, is for a prominent European shipowner known for their good credit, who requested to remain anonymous. The delivery schedule was not disclosed.
Shares of Guangdong Songfa Ceramics closed 5 percent higher at CNY89.67 (approximately $12.95) per share today, while the overall Shanghai stock index increased slightly by 0.1 percent.
This latest order marks Hengli Shipbuilding’s sixth since the beginning of the year. Earlier in February, the company secured two orders for a total of five vessels, valued between $430 million and $600 million, on February 3 and 7. The vessels include Capesize bulk carriers, very large crude carriers, and 158,000-ton crude oil tankers. Notable clients include a well-known Singaporean shipowner and Minerva Marine, a leading private Greek shipowner.
Hengli Shipbuilding ranks among China’s top five shipbuilding companies. It became a subsidiary of the private petrochemical conglomerate Hengli Group in 2022, but in May of the previous year, it was transferred to Guangdong Songfa Ceramics as part of a significant asset restructuring. This transition shifted Songfa Ceramics’ primary focus from ceramics manufacturing to the research, development, production, and sale of ships and high-end equipment.
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