1 billion yuan! This Chinese shipowner places its first order for an LR2-type oil tanker.

Donghai Anhe Bulk Carrier Co., Ltd. (EGPN Bulk Carrier) continues to expand its tanker fleet, placing its first order for an LR2-type product oil tanker.

According to TradeWinds, Donghai Anhe recently signed an order with Dalian Shipbuilding Industry Group’s Shanha Shipbuilding for two 115,000-dwt LR2-type product oil tankers. The new vessels will be built by Shanha Shipbuilding, a subsidiary of Dalian Shipbuilding. The first ship is scheduled for delivery by the end of 2027, while the second is set for delivery in the first half of 2028. Each vessel is estimated to cost around US$70 million, bringing the total transaction value to approximately US$140 million (equivalent to roughly RMB 996 million).

For reference, Clarkson data shows that the current price of a newbuild Aframax tanker with a deadweight tonnage of 113,000 to 115,000 tons is approximately US$72 million, representing a decline of about 4% compared to US$75 million in the same period last year.

The official representatives of Donghai Anhe have confirmed the latest order, but declined to disclose specific details of the contract. Sources indicate that the company, which primarily operates bulk carriers, has long aspired to further expand into the tanker sector—having previously engaged in the buying and selling of VLCC and MR-type product tankers.

It is understood that Donghai Anhe was established in December 2014 through the merger of Donghai Shipping Hong Kong Limited and Anhe Shipping Limited, both based in Hong Kong. The company is a specialized shipping enterprise integrating international shipping, ship trading, mining trade, and fleet operations. Relying on its own fleets of dry bulk carriers and liquid cargo vessels, it provides customers with high-quality, professional ship transportation services and tailored maritime logistics solutions. Its business spans a wide range of vessel types by deadweight tonnage, various categories of dry and liquid bulk cargoes, and multiple international shipping routes.

According to data from the company’s official website, its fleet comprises nearly 20 vessels of various types, including Capesize, Panamax, and Handysize dry bulk carriers, as well as product tankers and multipurpose chemical tankers. These vessels cover three key sectors: dry bulk cargo, refined oil products, and chemicals. The company boasts owned shipping capacity exceeding 1.26 million deadweight tons, with closely controlled capacity reaching approximately 3 million deadweight tons. Annual cargo throughput surpasses 15 million deadweight tons. With its fleet size and capacity firmly among the industry leaders, the company stands as one of China’s most specialized deep-sea shipping fleets.

Currently, the Donghai Anhe fleet comprises a total of three liquid cargo vessels, all of which are small oil tankers. In addition, the company placed an order between 2023 and 2024 with the Wuhu Shipyard for the construction of eight 18,500-dwt chemical tankers, with the new vessels expected to be delivered sequentially from 2025 to 2027.

At the end of 2021, Donghai Anhe made its first foray into the VLCC market by acquiring the secondhand VLCC "Eastern Juniper" (formerly known as "KHK Vision," built in 2007) for $31 million. After holding the vessel for six months, Donghai Anhe resold it, pocketing a profit of $5.5 million—equivalent to approximately RMB 39.1457 billion from this transaction.

According to Clarkson's data, excluding the latest order from Donghai Anhe, Dalian Shipbuilding Industry Group’s Shan Chuan Heavy Industry currently holds orders for a total of 42 vessels, totaling 4.384 million deadweight tons. These include 30 oil tankers, 7 container ships, 1 open-hatch vessel, and 4 bulk carriers, with delivery schedules extending as late as 2029.