Torm Linked to Eight-Vessel MR Tanker Newbuild Order at Zhoushan Changhong in China
Key Takeaways
- •The reported contract covers six firm 50,000 dwt scrubber-fitted MR tankers at approximately $46 million each, with options for two additional vessels bringing the total potential value to around $368 million.
- •The vessels would be scheduled for delivery in 2029 and 2030, illustrating how far out production slots at major Chinese shipyards now extend.
- •Neither Torm nor Zhoushan Changhong has publicly confirmed the deal, and no corresponding regulatory filing has been issued by the dual-listed shipowner.
- •If confirmed, the order would represent a notable shift in Torm's fleet growth strategy, which has recently focused on secondhand vessel acquisitions and newbuilding resales rather than direct newbuilding contracts.
- •Torm currently operates approximately 100 product tankers across the MR, LR1, and LR2 segments and expects pending deliveries to bring its fleet to 103 vessels.
Danish product tanker operator Torm has been linked to a potential order for up to eight MR (Medium Range) newbuildings at China's Zhoushan Changhong International Shipyard, according to shipbroking sources.
The reported contract covers six firm 50,000 dwt tankers, with options for two additional vessels, priced at approximately $46m per ship. The firm portion of the order would carry a combined value of around $276m, potentially rising to as much as $368m if both options are exercised.
The scrubber-fitted vessels — equipped with exhaust gas cleaning systems that permit the use of lower-cost high-sulfur fuel oil while complying with IMO sulfur regulations — are said to be scheduled for delivery in 2029 and 2030.
Neither Torm nor Zhoushan Changhong has publicly confirmed the deal, and no corresponding stock exchange filing has been made by the Copenhagen- and New York-listed shipowner.
If confirmed, the order would represent a notable shift in Torm's fleet growth strategy. The company's recent expansion has centered primarily on secondhand vessel acquisitions and newbuilding resales rather than directly contracted newbuildings.
In May 2026, Torm agreed to acquire six MR resale vessels slated for delivery between 2027 and 2028, along with two 2015-built MRs. Once all pending deliveries are completed, those transactions are expected to bring Torm's fleet to 103 vessels.
Torm currently operates approximately 100 product tankers spanning the MR, LR1, and LR2 segments, with vessel sizes ranging from roughly 45,000 dwt to 115,000 dwt. MR tankers, typically carrying refined petroleum products and chemicals on regional and medium-haul routes, form a core segment of the global products trade. The company, founded in 1889, is one of the longest-established names in the product tanker industry.
Zhoushan Changhong International Shipyard, located in Zhejiang Province, has been expanding its footprint in the tanker construction market alongside a substantial containership orderbook. Chinese shipyards collectively hold the largest share of global newbuilding orders by tonnage, and the 2029–2030 delivery window indicated in the reported Torm deal reflects how far out slots at major Chinese builders now extend. The shipyard is currently building a six-vessel series of 50,000 dwt chemical and product tankers for Greece's Horizon Tankers, with the first unit delivered earlier this year.