Tanker titans pour money into vessels and companies

Chinese shipyard Dalian Shipbuilding Industry Co (DSIC) has taken orders from "two European shipowners" for a total of up to 14 VLCCs worth US$1.8Bn, according to a Shanghai stock exchange filing from DSIC parent company China Shipbuilding Industry Co. 

Shipping industry financiers tipped shipping media outlet Tradewinds off to moves by John Fredriksen’s Seatankers and Evangelos Marinakis’ Capital Maritime & Trading, and the publication linked the magnates to the filing.

Seatankers is thought to have ordered up to eight 300,000-dwt VLCCs in a contract for six firm vessels with an additional two options, and Capital Maritime is believed to have signed for a potential six LNG dual-fuel vessels, with four firm and two as options.

Euronav, which announced in January an additional order for an ammonia-fuelled VLCC newbuilding and set out expectations of adding some 120 "future-proof vessels" to the Saverys family owned holdings, said its purchase of maritime decarbonisation technology firm CMB.Tech had been approved by its investors.

And the world’s largest chemical tanker fleet operator, the Oslo stock exchange-listed Stolt-Nielsen, made a 13% acquisition in rival Odfjell Tankers.

Between the two companies, a combined fleet would surpass 240 vessels, with Stolt-Nielsen controlling over 160 and Odfjell more than 80.

A Stolt-Nielsen investor announcement said, following the share acquisition, Stolt-Nielsen holds more than 8M shares in Odfjell, equalling 13.6% of the votes in the company.

In more news from Stolt-Nielsen, the company’s chief executive said its joint venture with NYK Line, NYK Stolt Tankers (NST) has reached an agreement with Nantong Xiangyu Shipyard in China to build six 38,000-dwt stainless steel chemical tankers. They will replace ships retiring from the company’s fleet beginning in 2026.

Stolt-Nielsen Ltd chief executive Dr Udo Lange said, "This order reflects our strategy to maintain scale of our core 38,000-dwt fleet by adding newbuildings not otherwise available in the secondhand market in a capital-efficient way through our NST joint venture."