Chinese shipbuilder Hengli has confirmed a major new shipbuilding program for Eastern Pacific Shipping (EPS), detailing a 12-ship order that represents one of the most significant commitments in the yard this year. The deal, worth between $1.1 billion and $1.6 billion, covers three types of ships and indicates the desire of the owner, led by Idan Ofer, to… Return to the VLCC sector After an absence of seven years.
EPS has contracted six VLCCs with a capacity of 306,000 tons, the first large order to transport crude oil since the cancellation of the 2000-built tanker. Marine jewel in 2018. The move expands the Singaporean owner’s endeavors to rebuild its crude oil fleet after several years of focus on Aframax and Suezmax tankers, followed more recently by a series of additions of MR product tankers.
The order also includes two 158,000 dwt Suezmax tankers equipped with dual-fuel LNG propulsion. EPS has already committed to one pair in July, with an option to buy two more, in a package valued at $360 million. The confirmed vessels are scheduled for delivery in the first half of 2028.
Rounding out the order book are four 6,000 TEU container ships. EPS was linked earlier this year Up to eight units at Hengli at prices approaching $80 million per vessel, including scrubbers and high draft refrigerants.
The deal adds further momentum to Hengli’s return to the new construction export market. The Dalian-based yard has secured contracts for a wide range of ship types in recent months, including box ships, bulk ships and tankers. Its order book for 2025 is approaching 100 ships, and forward openings now extend to 2029.
For EPS, the agreement strengthens its position as one of the most active owners in the newbuild market, with a diversified program across tankers, gas carriers and container ships.
