Two more vessels secured! Jinglu Shipbuilding has consecutively won large tanker orders from Greek shipowners.

Penglai Jinglu Shipbuilding, which has just entered the Suezmax tanker construction market, has secured orders for two additional vessels of the same class, further expanding its footprint in the large‑size tanker segment.

Recently, Greek shipowner Chemnav Shipmanagement announced the order of two Suezmax tankers from a “first‑class shipyard.” Although the company did not disclose the shipyard’s name, according to Clarkson data, the contract was awarded to Jinglu Shipbuilding, with the two new vessels scheduled for delivery in 2030 and 2031.

According to reports, the construction cost of each of these two new vessels is approximately US$82 million (about RMB 549 million). For reference, Clarkson data indicate that the current price for a new 156,000–158,000-dwt Suezmax crude oil tanker stands at around US$90 million, up roughly 5.3% from US$85.5 million at the same time last year.

By contrast, the two Suezmax tankers that Chemnav ordered from New Times Shipbuilding last year were each priced at approximately US$80 million and are scheduled for delivery in early 2029.

With the latest order now secured, Chemnav’s backlog of Suezmax tankers has expanded to four vessels. In addition, the company has placed an order with South Korea’s K Shipbuilding for five MR2 product tankers, with the final two expected to be delivered next year.

This order marks the second Suezmax tanker contract that Jinglu Shipbuilding has recently secured. Earlier, Singapore‑based shipowner X‑Press Feeders placed an order with Jinglu Shipbuilding for four 158,000‑dwt Suezmax tankers, representing the shipyard’s first-ever large‑size tanker order. Prior to this, the largest oil tanker delivered by Jinglu Shipbuilding was a 50,000‑dwt MR‑type product tanker.

For many years, Jinglu Shipbuilding has primarily focused on building small and medium-sized vessels, but in recent years it has gradually expanded into the large‑ship market. In 2024, Jinglu Shipbuilding secured its first order for a 11,500‑TEU LNG‑dual‑fuel container ship destined for Mediterranean Shipping, setting a new record for the company at the time. Prior to this, the largest vessel built by Jinglu was an 82,000‑dwt bulk carrier, and the company had never constructed a dual‑fuel ship.

Last September, Mediterranean Shipping Company placed another order with Jinglu Shipbuilding for two 21,000 TEU ultra-large LNG‑dual‑fuel container vessels, once again setting a new record for the largest ships built by Jinglu Shipbuilding and marking the company’s first entry into the ultra‑large vessel construction market. Mediterranean Shipping is also currently the only shipowner to have ordered both large and ultra‑large vessels from Jinglu Shipbuilding.

Including the latest order, Clarkson’s data show that Jinglu Shipbuilding currently holds a total of 58 vessels amounting to 4.83 million deadweight tons, comprising 29 oil tankers and 29 container ships, with delivery schedules extending through 2031.