Prokopiou's Dynacom expands tanker newbuilding spree with nine Suezmaxes at Hengli

Guangdong Songfa Ceramics disclosed on 10 February that its subsidiary, Hengli Heavy Industries, has secured contracts for the construction of 10 Suezmax crude oil tankers of 158,000 dwt, with a total contract value estimated at US$700M to US$1Bn.

Dynacom Tankers was named as the counterparty for nine of the vessels, contracted through single-purpose owning companies. The remaining Suezmax has been ordered by an undisclosed, well-known European shipowner.

The latest deal deepens the co-operation between Dynacom and Hengli. The Greek owner is also working with the Chinese shipbuilder on a VLCC newbuilding programme, having placed an order for four units last month, following an earlier four-ship contract concluded in October 2025.

Under the leadership of George Prokopiou, Dynacom continues to operate one of the most extensive newbuilding pipelines in the global shipping industry, with tankers and bulk carriers forming the backbone of its fleet-expansion strategy. Hengli has also been entrusted with multiple Kamsarmax newbuildings for Sea Traders, the dry bulk arm of the Greek shipping group.

The Chinese shipbuilder has been on a remarkable run since last year, securing a steady stream of contracts across multiple vessel segments. According to Chinese media reports, Hengli has so far secured firm orders for at least 30 vessels in 2026, spanning tankers, bulk carriers and container ships.

Deliveries set to hit records

The tanker newbuilding market remains highly active, with VLCCs and Suezmaxes among the most sought-after vessel classes. Riviera reported this week that Minerva Marine and AET have also turned to Chinese shipbuilders for new Suezmax tonnage.

In its latest weekly report, Xclusiv Shipbrokers noted that the 2025–2028 period is shaping up to be one of the strongest delivery phases of the past two decades across several core tanker segments.

MR2, Aframax/LR2, and Suezmax tankers are all on track to record their highest four-year intake since the 2008–2011 cycle.

However, Xclusiv highlighted that the ageing profile of the global tanker fleet means most upcoming deliveries are expected to replace older tonnage rather than add net capacity. This supports the view that “the current newbuilding appetite does not pose a structural supply risk, at least through 2028.”