China’s shipyards secure wave of oil tanker orders as Iran war drives demand
At least two Swiss firms and one Singapore-based company have placed VLCC orders with Chinese shipyards in recent weeks.
Switzerland’s Advantage Tankers, which had a long-standing reliance on South Korean shipyards, has placed an order in China for two 307,000-deadweight-tonne VLCCs. The vessels are scheduled for delivery in the second quarter of 2028 and the third quarter of 2029.
Meanwhile, Geneva-based Mercuria Energy Group, one of the world’s leading independent commodity traders, has signed shipbuilding contracts in China worth nearly US$650 million. The order includes up to four VLCCs and two LR2 product tankers, with deliveries expected by 2029.
Singapore-based Yangzijiang Maritime Development, backed by Chinese shipbuilding tycoon Ren Yuanlin, has ordered eight VLCCs – its first venture into the large-tanker segment – with deliveries planned between 2028 and 2030, company filings showed.