China Merchants to order 10 VLCCs at domestic shipyard

The company has issued a VLCC construction procurement notice, inviting CSSC’s Dalian Shipbuilding Industry Co (DSIC) to serve as the supplier. The project will be entirely self-funded.

Public documents indicate that deliveries are scheduled between March 2028 and June 2030.
Associated Maritime Co Hong Kong operates a diverse fleet, including oil and chemical tankers as well as gas carriers, ranging from 13,500 to 325,000 dwt, according to its website. Equasis lists the company as the owner of 59 tankers.

China Merchants has a long-standing relationship with DSIC, having contracted the shipbuilder for numerous projects over the years. In 2024, the company ordered five VLCCs and five Aframax tankers. Chinese media reported back then that DSIC had built 57 vessels for China Merchants Energy Shipping since 2007.

The VLCC newbuilding market began the year with strong momentum, driven primarily by Chinese shipyards, with South Korean yards also benefiting. Although the pace has recently cooled, owners continue to fill available slots.

According to Xclusiv Shipbrokers, as of early March, 47 VLCCs have been ordered in 2026. The orderbook-to-fleet ratio currently stands at nearly 22% in dwt terms, while around 41% of the active fleet is aged 16 years or older.