6 Vessels! Turkish Shipowners Step Up Orders for Tankers from Chinese Shipyards

Turkish shipowner Densay Shipping is accelerating its expansion into the oil tanker market by placing an additional order for two 50,000-dwt MR-type product tankers at the Wuhu Shipyard.

According to foreign media reports, the latest two vessels are optional ships under the order for four MR-type vessels signed by Densay Shipping at the end of 2024. The first four vessels are scheduled for delivery in 2026, with the remaining two set to be delivered in 2027. These vessels will operate on conventional fuel and will be equipped with desulfurization systems. They are designed to simultaneously transport both oil and chemical cargoes, though the exact price of the ships has not been disclosed.

For reference, Clarkson data shows that the current price of a newbuild 47,000–51,000 DWT product tanker is approximately US$48.5 million (about RMB 345 million), representing a 7% decline compared to US$52 million during the same period last year.

The addition of the new order brings Densay Shipping's total number of orders at the Wuhu Shipyard to six vessels, marking a pivotal expansion for the company in terms of vessel type diversification.

It is understood that Densay Shipping is a global shipping company long renowned for its dry bulk transportation business. The company operates a fleet of approximately 40 bulk carriers, including Ultramax, Supramax, Handysize, and Capesize vessels, providing maritime services to grain enterprises, oil giants, commodity traders, mining companies, steel plants, utility providers, and industrial users.

The order from Wuhu Shipyard marks Densay Shipping's first direct entry into the newbuilding segment of oil tankers, serving as a key component of its fleet renewal strategy, which focuses on modern vessel types and diversified growth. In addition to this newbuilding project in China, Densay Shipping has also signed a bareboat charter contract for an MR-type product tanker currently under construction at Imabari Shipbuilding in Japan, with delivery expected in mid-2026.

It is understood that Wuhu Shipyard originated from the Fujiji Heng Machinery Factory, established in 1900, giving it a history of 123 years. In 2007, Chery acquired Wuhu Shipyard and, through asset restructuring and reform, transformed it into Wuhu Xinlian Shipbuilding Co., Ltd. The company relocated to its new SanShan facility in 2010. Today, it operates under the name Wuhu Shipyard Co., Ltd. and has become one of China's leading modern shipbuilding enterprises.

As Anhui Province's largest shipbuilding enterprise, Wuhu Shipyard is dedicated to the development and manufacturing of intelligent and green vessels. Its commercial vessel division has already established five mature product lines: liquid cargo ships, offshore engineering vessels, bulk carriers, specialized vessels, and multi-purpose ships. Currently, Wuhu Shipyard operates under its headquarters in Wuhu, a shipbuilding base in Weihai, the Anhui Haizhi Equipment Research Institute, Shanghai Haizhi Zhiyuan Technology Co., Ltd., Wuhu Fujiji Heng Machinery Co., Ltd., Yingxing Financial Leasing (Anhui) Co., Ltd., and San Dian Shui New Energy Technology Co., Ltd.

According to Clarkson's data, excluding the latest orders, Wuhu Shipyard currently holds a total of 103 vessels with a combined deadweight tonnage of 3.3733 million tons. These include 69 chemical tankers, 12 multipurpose vessels, 10 bulk carriers, 3 container ships, 2 asphalt carriers, 2 multi-purpose service vessels, and 5 other ship types, with delivery schedules extending as far as 2029.