One of the most intense periods of new tanker ordering in recent years is underway, with Greek owners playing a leading role globally. Greek owners are leading a significant surge in new tanker orders globally. Evangelos Marinakis’ Capital Ship Management Group is expanding its tanker shipbuilding program with a new order for eleven 306,000-dwt very large crude carriers (VLCCs) at Hengli Shipbuilding.

Guangdong Songfa Ceramics Co., Ltd. (Songfa) has revealed the signing of two shipbuilding contracts for fifteen 306,000-dwt VLCCs with its subsidiary, Hengli Shipbuilding (Dalian) Co., Ltd. valued at between $1.7bn and $2bn.

In a Shanghai stock exchange announcement on Feb. 12, the company confirmed that its subsidiary Hengli Shipbuilding signed contracts with Capital Ship Management Group for 11 ships. The remaining four vessels were taken by what the filing described as a well-known European shipowner. The shipbuilder didn’t disclose details about the shipowner. It only mentioned that it has “good credit standing” and the “ability to perform the contract.”

The announcement for the 11 ships disclosed that the counterparty is a company under Greece’s Capital Ship Management Group.

Recently, George Prokopiou’s Dynacom Tankers Management placed a new order for nine 158,000-dwt crude oil tankers at Hengli Shipbuilding.

Dynacom Tankers Management Ltd. (DTM) is a shipping enterprise with significant influence in the maritime sector, specializing in the operation of tankers carrying crude oil and clean oil products.

Greece’s Minerva Marine also contracted Hengli Shipbuilding to construct two crude oil tankers. The deal covers two 158,000-dwt tankers, with a total contract value in the range of around $160m to $200m, according to a Shanghai stock exchange announcement on Feb. 7 by Guangdong Songfa Ceramics Co., Ltd. (Songfa).

Andreas Martinos-led Minerva Marine is a family-owned shipping company founded in Athens, Greece.

Its core business is tanker operation, with a fleet portfolio of around 50 ships (VLCCs, suezmaxes, aframaxes and MRs).

Minerva Marine Inc. was established in 1996 and Minerva Dry Inc. in 2020 in Greece as ship management companies. Minerva Dry Inc. was established with the aim to manage the dry cargo vessels. In total, the two companies have a fleet portfolio of around 70 ships (tankers, dry cargo & container vessels).