Topic
vlcc
Logistics Pan Ocean Confirms Two VLCC Newbuildings at Qingdao Beihai Shipyard
South Korean shipowner Pan Ocean has confirmed a pair of VLCC newbuildings at CSSC-controlled Qingdao Beihai Shipbuilding. The 319,000 dwt ammonia-ready vessels are scheduled for delivery in September 2030, priced around $122m each, according to market sources. This follows a single same-design VLCC ordered in March, bringing Pan Ocean's VLCC orderbook at the yard to three ships.
Logistics JP Morgan Tied to Hanwha Ocean's Latest VLCC Newbuilding Order
JP Morgan has been identified as the owner behind Hanwha Ocean’s latest order for two VLCC newbuildings, priced at about $132.5m each. The order is part of a broader programme of 10 VLCCs across South Korean and Chinese yards, with total spending near $1.3bn. Hanwha Ocean has now secured 27 vessels worth $4.61bn in 2026.
Logistics DHT Holdings Secures Three-Year VLCC Time Charter at $75,000 Per Day for DHT Jaguar
New York-listed VLCC owner DHT Holdings has fixed its 2015-built DHT Jaguar on a three-year time charter with an unnamed global energy company at $75,000 per day, starting September. The deal adds long-term forward cover into 2029 and follows earlier high-paying fixtures. DHT reported strong Q2 fleetwide TCE earnings of $126,700 per day, with spot VLCCs earning $162,600 per day.
Logistics Ovkianvance Port acquires vintage non-sanctioned VLCC Takai in muted S&P market
Tanker sale and purchase activity remains subdued this month. Hong Kong-based Ovkianvance Port has acquired the 299,000 dwt VLCC Eclat, now renamed Takai, for an estimated $52 million. The vintage non-sanctioned vessel, built in 2004, is now trading under the Sierra Leone flag.
Logistics Tor Olav Trøim-backed Bruton splits 12-ship VLCC programme into two listed vehicles
Bruton, backed by Tor Olav Trøim, is splitting its 12-ship VLCC orderbook into two separate listed vehicles. The first four VLCCs from New Times Shipyard will remain in Bruton Limited as a dividend-paying company, while the remaining eight (four at New Times and four at CIMC Raffles) will be spun into a new Bermuda company expected to list on Euronext Growth Oslo by end of August. The company has taken delivery of its first VLCC, Mount Vision, which will start a time charter with a fixed rate of $95,000 per day for the first nine months. Lars-Christian Svensen has been appointed interim CEO.
Logistics VLCC market adapts as Hormuz closure reshapes global crude flows: Splash247 analysis
The effective closure of the Strait of Hormuz in Q2 2026 forced VLCC charterers, owners, and traders to reroute crude flows, with the Gulf of Oman emerging as the new Middle Eastern baseline. The Baltic Exchange introduced a new benchmark route, TD34, while freight rates on key lanes fluctuated. The Atlantic Basin gained strategic importance as Brazil drove activity.
Logistics Pan Ocean orders two more VLCCs as crude tanker expansion accelerates
South Korean shipowner Pan Ocean has ordered two more very large crude carriers (VLCCs), ammonia-ready and costing about $122m each, for delivery by September 2030. The move extends a series of investments that have reshaped its fleet, including a $525m order for four VLCCs at Hanwha Ocean and a $700m acquisition of 10 VLCCs from SK Shipping.
Logistics Troubled Shadow VLCC Era Resurfaces Under Comoros Flag, Heading to Trinidad for Possible Scrapping
The shadow VLCC Era, a 2002-built tanker with a history of Iranian oil smuggling and a US Coast Guard chase, has resurfaced under the Comoros flag with a destination of Chaguaramas, Trinidad & Tobago. Its ownership by Global Marketing Systems and management by Blue Whale Maritime, a firm active in demolition voyages, signals a likely end-of-life scrapping. The vessel's former master pleaded guilty to failing to obey a US Coast Guard order.
Logistics Yasa Holding Tipped for Debut VLCC Newbuilding Order as Supertanker Contracting Surges
Turkish owner Yasa Holding is reportedly ordering four 319,000 dwt VLCC newbuildings at Jiangsu New Hantong Ship Heavy Industry, valued at $125m each and scheduled for delivery in 2029. The order, if confirmed, would be Yasa's first VLCC newbuilding, complementing its existing secondhand VLCC fleet. This comes during the busiest period for supertanker contracting in years, with Q4 2025 and Q1 2026 ordering already topping the highest full-year VLCC order tally on record.
Logistics Cido Shipping Tied to Four VLCCs at HD Hyundai's Philippine Yard for $130m Each
Hong Kong-based Cido Shipping is linked to a newbuilding deal for four 300,000 dwt very large crude carriers at HD Hyundai's Philippines yard, priced at around $130 million each. Deliveries are scheduled between 2029 and 2030, though no official confirmation has been provided. The order adds to Cido's recent tanker ordering activity, including suezmaxes and product carriers at HD Hyundai yards.
Logistics Pan Ocean Locks In $1.62B VLCC Newbuild Deal with SK Energy for 20-Year Crude Transport
Pan Ocean has secured a $1.62 billion, 20-year crude transport contract with SK Energy and SK Incheon Petrochem for four very large crude carrier (VLCC) newbuildings. The deal, running from 2029 to 2049, covers crude oil trades from the Middle East to South Korea, providing long-term employment for the tankers built at Hanwha Ocean. It marks Pan Ocean's continued expansion in the crude tanker segment, following its earlier $700 million acquisition of 10 VLCCs from SK Shipping.
Logistics Lila Global Poised for 68% Paper Gain on VLCC Sale Amid Sky-High Tanker Rates
Lila Global is closing in on a roughly 68% paper gain from the sale of the scrubber-fitted VLCC Lila Kochi, acquired for $47m in May 2025 and now reported sold for around $79m. The deal follows a similar 55% asset value uplift on the Lila Jamnagar, highlighting the extraordinary returns in the VLCC market amid sky-high crude tanker rates in the Arabian Gulf.
Logistics VLCC values continue to rise even for 20-year-old ships, brokers report
According to Splash247, VLCC values continue to rise, with even 20-year-old vessels fetching significant sums. The 302,400 dwt Kawasaki-built Yamatogawa was sold for $61.5 million, following the April sale of the similar-aged Kasagisan for just over $60 million. Sincere Navigation also sold two younger VLCCs for $82 million and $78 million earlier this year.
Logistics Hunter Group Initiates Arbitration Over $28.2M VLCC Charter Payment Dispute
Norwegian shipping and investment company Hunter Group has commenced arbitration proceedings in London against a long-term charter counterparty over a failure to pay approximately $28.2 million in charter hire. The dispute, which first surfaced in April, involves reduced payments for March, April, and May, with the charterer contesting its obligations. Hunter Group is seeking recovery of all outstanding hire plus interest and costs via the London Maritime Arbitrators Association.
Logistics Pan Ocean linked to four-VLCC order at Hanwha Ocean in $524m deal
Pan Ocean has been identified as the buyer behind a four-vessel VLCC order at Hanwha Ocean, valued at KRW800.1bn ($524m). The order follows a $700m VLCC acquisition from SK Shipping and highlights Pan Ocean's continued expansion into crude tanker shipping, complementing its core dry bulk operations.
Logistics Capital Tankers Expands VLCC Fleet with Three Newbuilds from Marinakis Affiliate
Capital Tankers, backed by Evangelos Marinakis, is acquiring three VLCC newbuilding contracts from parent company Capital Maritime & Trading Corp. The vessels are under construction at China's Hengli Shipbuilding for delivery in late 2027. The transaction involves an upfront payment of $111.8 million by end of June, with remaining balances due upon delivery, and is expected to strengthen the company's orderbook.
Logistics VLCC Orderbook Reaches Record High Amid Fleet Renewal
The VLCC orderbook has reached a record high, with 262 units on order, driven by fleet renewal needs. This surge in orders could impact freight rates and market dynamics, as older vessels are phased out.
Logistics Sincere Navigation Sells VLCC Maxim to Sinokor
Sincere Navigation has sold its 2011-built VLCC Maxim to Sinokor, marking its second VLCC sale this year. This transaction highlights Sinokor's active role in the VLCC market.
Logistics DHT Expands VLCC Fleet with New Hanwha Order
DHT Holdings has placed an order for a new Very Large Crude Carrier (VLCC) with Hanwha Ocean, continuing its fleet renewal strategy. The new vessel will be delivered in August 2028, following the successful delivery of two sister ships earlier this year.
Trade US Navy Disables Sanctions-Evading Tanker Near Kharg Island
The US Navy fired a Hellfire missile at the VLCC Lexie, a tanker heading for Iran's Kharg Island, amid ongoing sanctions evasion. This action has intensified tensions in the Persian Gulf, leading to retaliatory strikes by Iran.