Dynacom Tankers, under the leadership of prominent Greek shipowner George Procopiou, has further solidified its relationship with China’s Hengli Heavy Industry through a significant new building contract. The latest agreement involves the construction of four Very Large Crude Carriers (VLCCs), each boasting a capacity of 306,000 dwt.
Strengthening the Partnership with Hengli Heavy Industry
This latest deal marks a milestone in the ongoing collaboration between the Procopiou group and the Dalian-based shipyard. Historically, this represents the 16th newbuilding project shared between the two entities in this specific vessel segment. Industry experts estimate the total value of this four-vessel contract to be within the range of $400 million to $600 million.
The move follows a pattern of aggressive tonnag acquisition earlier this year, when Dynacom secured contracts for nine Suezmax tankers at the same facility. These investments are part of a strategic fleet renewal program designed to maintain a modern and efficient fleet in an evolving regulatory landscape.
Extensive Orderbook Across Chinese Shipyards
The Procopiou group’s expansion strategy is not limited to a single yard. Currently, Dynacom manages a robust fleet of approximately 70 tankers, but its future-looking orderbook is even more impressive, with roughly 80 vessels currently commissioned across several elite Chinese shipyards. These include:
- Hengli Heavy Industry: Primarily handling VLCCs, Suezmax tankers, and Kamsarmax bulkers.
- New Times Shipbuilding: Supporting the group's broader tanker requirements.
- Dalian Shipbuilding Industry Co. (DSIC): Playing a key role in larger vessel construction.
- Hudong-Zhonghua: Reportedly linked to an order for up to 12 VLCCs with anticipated deliveries in 2028.
Diversification and Market Outlook
While the focus remains heavily on the tanker market, the group is also enhancing its dry bulk capabilities. Sea Traders, the dry bulk arm of the Procopiou empire, has been equally active at Hengli, recently placing orders for 10 Kamsarmax bulk carriers. This multi-sector approach ensures the group remains resilient across different trade cycles while capitalizing on the current demand for high-specification, Chinese-built tonnage.
With delivery slots for large tankers becoming increasingly scarce, this proactive ordering strategy positions Dynacom as a dominant force in the global energy transport sector for the next decade.