Greek owner Venergy Maritime has firmed up contracts for two additional suezmax newbuildings at China's Hengli Shipbuilding, bringing its series at the Dalian yard to four vessels and lifting its overall newbuilding programme to 30 ships.

The company, led by Vyron Vasileiadis, exercised options for two 158,000 dwt tankers attached to a deal agreed earlier this year. Brokers estimate the latest pair at around $84m each, or $168m combined, with delivery scheduled for 2029.

The newbuildings follow the 158,000 dwt V Leon and V Nikos, which Venergy contracted at Hengli in June for delivery in the fourth quarter of 2028. As Splash reported at the time, the original Hengli contract covered two firm vessels plus two options. No official price was disclosed then, although brokers were quoting Chinese-built suezmaxes in the mid-to-high $80m range.

The move takes Venergy's reported firm suezmax newbuilding programme to eight ships across three Chinese yards. Alongside the Hengli quartet, the company's own fleet list shows the 158,000 dwt V Dragon and V Georgia at Shanghai Waigaoqiao Shipbuilding and the 157,000 dwt V Titan and V Orion at Guangzhou Shipyard International. Deliveries stretch from late 2028 through 2029.

The order marks another sizeable step in a fleet-building campaign that has gathered remarkable pace since Vasileiadis entered shipowning independently. The programme, which spans product tankers, crude tankers and containerships, is now estimated at close to $2bn. The exercise of contracted options is a common way owners extend series at fixed or pre-negotiated terms, and the step from the earlier quoted mid-to-high $80m range to an estimated $84m per ship reflects the price levels brokers have been reporting for Chinese suezmax newbuildings.

Suezmaxes are medium-to-large crude tankers typically employed on routes such as the Middle East Gulf to Asia and the Black Sea and Mediterranean export trades. China's major state-backed yards, including Hengli Shipbuilding in Dalian, Shanghai Waigaoqiao Shipbuilding and Guangzhou Shipyard International, are among the world's largest builders of such tankers and have secured a substantial share of global tanker newbuilding orders in recent years. Delivery slots for large tankers at major yards have been filling into 2028 and beyond, and Venergy's delivery dates in late 2028 and 2029 are consistent with the timelines buyers now face when ordering.

Source: Splash247