Operational impact: Greek tanker owner Dynacom Tankers has expanded its VLCC construction programme at China's Hengli Heavy Industry to 20 ships, adding four more 306,000 dwt vessels, according to Splash247.
Order expansion at Hengli
Splash247 reported that George Procopiou’s Dynacom Tankers has returned to Hengli Heavy Industry for four more VLCCs, taking the Greek owner’s programme at the Chinese yard to 20 ships. Hengli has not disclosed the value, delivery dates or propulsion arrangements for the latest 306,000 dwt quartet, according to the report.
The latest order follows a four-ship deal disclosed in March, which lifted Dynacom’s Hengli VLCC tally to 16. Splash247 reported that that quartet was estimated to be worth between $400m and $600m.
Hengli has not disclosed the value, delivery dates or propulsion arrangements for the latest 306,000 dwt quartet.
Deliveries and fleet status
According to Splash247, four ships from the programme have already been delivered, according to the Dalian-based builder. The first arrivals included the Aliakmon I in 2025 and the Pinios earlier this year. With the four new orders, 16 VLCCs from the Hengli programme remain undelivered.
| Programme detail | Figure |
|---|---|
| Total VLCCs ordered at Hengli | 20 |
| Delivered so far | 4 |
| Latest order | 4 x 306,000 dwt |
| March quartet estimated value | $400m – $600m |
| VLCC newbuildings linked to Hudong-Zhonghua | Up to 12 |
| Ships booked across Chinese yards by Procopiou group | More than 70 |
Beyond VLCCs: broader yard relationship
The relationship between Procopiou’s group and Hengli extends well beyond VLCCs, Splash247 reported. Dynacom has also booked suezmax tankers and ammonia carriers at Hengli, while Procopiou-controlled Sea Traders has signed for 10 kamsarmax bulkers at the yard.
Procopiou has been one of the most aggressive newbuilding investors in the tanker sector, with more than 70 ships booked across Chinese yards including New Times Shipbuilding, Dalian Shipbuilding Industry Co and Yangzijiang Shipbuilding, Splash247 added.
Implications for shippers and operators
For charterers and tanker market participants monitoring future crude carrier supply, the scale of the order book provides clear visibility into the pipeline. Of the 20 VLCCs at Hengli, four are already delivered — the Aliakmon I and Pinios among them — and 16 remain to be built. Separately, the Greek group is also pursuing VLCC capacity elsewhere in China and has been linked to as many as 12 VLCC newbuildings at Hudong-Zhonghua, with deliveries running through to 2030.
Because Hengli has not disclosed pricing or delivery dates for the latest quartet, operators will need to track further announcements from the builder to assess when the additional tonnage will enter service.
Watch list
- Undisclosed contract terms for the newest four VLCCs — value, delivery dates and propulsion arrangements, per Splash247.
- 16 remaining Hengli hulls are still to be built after the four already delivered.
- Hudong-Zhonghua link — up to 12 VLCC newbuildings, deliveries through 2030.
- Broader Chinese yard activity — more than 70 ships on order by Procopiou group across New Times Shipbuilding, Dalian Shipbuilding Industry Co and Yangzijiang Shipbuilding.
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