Marinakis & Fredriksen Strengthen Chinese Shipbuilder Ties

With a single declaration from China, the compact worldwide VLCC order book has increased by 60%.

DSIC (Dalian Shipbuilding Industry Co) has obtained orders for a total of $1.8 billion from two well-known European clients, involving the construction of up to 14 Very Large Crude Carriers (VLCCs).

Seatankers, led by John Fredriksen, has entered into a contract with a Chinese shipyard for the construction of six firmly ordered VLCCs utilizing traditional fuel. The agreement also includes the option to add two more vessels to the order. Additionally, Capital Maritime & Trading, headed by Evangelos Marinakis, has committed to four confirmed VLCCs incorporating LNG dual-fuel technology, with the flexibility to expand the contract by two more ships. The delivery of these vessels is anticipated to commence at the end of 2026 and continue throughout 2027.

Prior to these significant orders, the VLCC order book was among the smallest in the world across various sectors. Clarksons Research reported a mere 23 VLCCs on order as of the previous Friday.