Procopiou's Dynacom Tankers Orders Four More VLCCs from Hengli Heavy Industry, Bringing Programme to 20 Ships
Key Takeaways
- •Dynacom Tankers has expanded its VLCC order programme at Hengli Heavy Industry to 20 vessels with the addition of four 306,000 dwt tankers.
- •Four vessels from the overall Hengli programme have already been delivered, including the Aliakmon I in 2025 and the Pinios earlier this year.
- •A previous four-ship deal announced in March was estimated to be worth between $400 million and $600 million, though terms for the latest order were not disclosed.
- •Procopiou's group has been linked to as many as 12 additional VLCC newbuildings at Hudong-Zhonghua Shipbuilding, with deliveries extending through 2030.
- •Across multiple Chinese shipyards, Procopiou has ordered more than 70 ships, making him one of the most active newbuilding investors in the tanker sector.
George Procopiou's Dynacom Tankers has placed an order for four additional very large crude carriers (VLCCs) at Hengli Heavy Industry, bringing the Greek shipowner's total VLCC programme at the Chinese shipyard to 20 vessels.
Hengli, which is based in Dalian, has not disclosed the contract value, delivery dates, or propulsion arrangements for the latest quartet of 306,000 deadweight tonne (dwt) tankers. VLCCs are the largest class of crude oil tankers, each capable of carrying roughly two million barrels of oil per voyage, and are typically deployed on long-haul routes such as the Middle East Gulf to East Asia trade lane.
According to the builder, four ships from the overall programme have already been delivered. The first deliveries included the Aliakmon I in 2025 and the Pinios earlier this year.
The new order follows a separate four-ship deal announced in March, which had raised Dynacom's Hengli VLCC count to 16. That earlier quartet was estimated to be worth between $400 million and $600 million.
The relationship between Procopiou's group and Hengli extends beyond VLCCs. Dynacom has also booked suezmax tankers and ammonia carriers at the yard, while Procopiou-controlled Sea Traders has signed for 10 kamsarmax bulk carriers at the same facility. Hengli Heavy Industry, formerly the STX Dalian shipyard before its acquisition and revival by the Hengli Group, has been expanding its commercial shipbuilding footprint.
The Greek group is simultaneously pursuing additional VLCC capacity elsewhere in China. It has been linked to as many as 12 VLCC newbuildings at Hudong-Zhonghua Shipbuilding, with deliveries extending through to 2030. Chinese shipyards collectively hold the largest share of global newbuilding orders by gross tonnage, and slot availability at major facilities has tightened as ordering activity across tanker, bulk carrier, and container segments has increased.
Procopiou has been among the most active newbuilding investors in the tanker sector, with more than 70 ships ordered across multiple Chinese shipyards, including New Times Shipbuilding, Dalian Shipbuilding Industry Co, and Yangzijiang Shipbuilding. The combined scale of orders at Hengli and Hudong-Zhonghua alone represents over 30 VLCC newbuildings for a single owner.
Source: Splash247
