On the evening of February 9, Guangdong Songfa Ceramics Co., Ltd. announced that a contract for the construction of 10 Suezmax crude oil tankers, each with a deadweight tonnage of 158,000 tons, had recently been signed and become effective by its subsidiary, Hengli Shipbuilding (Dalian) Co., Ltd.
The announcement indicated that nine of the new vessels were ordered by Greece’s Dynacom Tankers Management, while the remaining one was ordered by a well-known European shipowner. In accordance with the agreement between the shipowner and Hengli Shipbuilding, as well as relevant provisions of the “Regulations on the Temporary Suspension and Exemption of Information Disclosure for Listed Companies,” the specific identity of the shipowner is exempted from disclosure. The total contract value for these 10 new vessels amounts to approximately US$700 million to US$1 billion (equivalent to roughly RMB 4.857 billion to RMB 6.939 billion), with payment denominated in U.S. dollars.
For reference, Clarkson’s data show that the current price of a newbuild Suezmax tanker with a deadweight tonnage of 156,000 to 158,000 tons is approximately USD 86.5 million, down 4% from USD 90 million in the same period last year.
It is understood that Dynacom Tankers Management is an oil tanker subsidiary of Greek shipping magnate George Procopiou. Supported by Suezmax tankers and Very Large Crude Carriers (VLCCs), the company has deep expertise in the crude oil and refined petroleum product transportation markets and boasts an extensive and solid track record in the global maritime logistics industry.
Dynacom is an important customer of Hengli Heavy Industry. Just last month, Hengli Heavy Industry signed an order with Dynacom for four VLCCs. As a result, Dynacom’s involvement in Hengli Heavy Industry’s new VLCC construction projects has now reached 12 vessels, fully demonstrating the deep-rooted cooperative foundation and mutual trust between Dynacom and Hengli Heavy Industry.
Including the latest order, Hengli Heavy Industry has already secured over 30+2 new ship orders so far this year, comprising 12 VLCCs, 12 Suezmax crude oil tankers, 1 LR2 product oil/crude oil tanker, 1 bulk carrier, and 4+2 6,000-TEU container ships.
It is understood that Hengli Heavy Industry’s predecessor, STX Dalian, was once China’s largest foreign-invested shipyard and boasted the largest single shipyard in northern China. In 2022, responding to the nation’s call, Hengli Group established Hengli Heavy Industry Group and spent 2.11 billion yuan to bid for and acquire the assets of the former STX Dalian, which had been idle for a decade. Hengli is now fully committed to building a world-class, high-end shipbuilding base. In January 2023, Hengli Heavy Industry’s Phase I “Ocean Factory” achieved full operational status in just 150 days. This past January, Phase II—the “Future Factory”—was brought into production within five months. In September of this year, the Hengli Heavy Industry Collaborative Innovation and Offshore Engineering Technology Industrial Park broke ground on Changxing Island in Dalian.
Once all projects in the Hengli Heavy Industry series reach full production capacity, the facility will be able to build over 150 ultra-large vessels annually and produce 180 marine engines—including G95 main engines and models below—that support a full range of dual-fuel options: LNG, LPG, methanol, and ammonia. This will make it the world’s largest single-site shipbuilding base with the most comprehensive supporting infrastructure.
According to Clarkson’s data, excluding the latest orders, Hengli Heavy Industry currently holds a total of 222 ship orders totaling 36.61 million deadweight tons. Among these, there are 92 bulk carriers, 74 oil tankers, 52 container ships, and 4 LPG carriers, with delivery schedules extending as far as 2029.