Dynacom contracts for bargain pair of Dalian VLCCs

Dynacom contracts for bargain pair of Dalian VLCCs

George Prokopiou-led Dynacom Tankers has used the lull in newbuild orders to bag a bargain from hungry Chinese yards.

Brokers report Dynacom has inked a deal with Dalian Shipbuilding Industry Co (DSIC) for a pair of 310,000 dwt VLCCs. The ships are priced at $83m each and will deliver in 2022.

Banchero Costa described the price tag as “sensibly softer” when compared to other VLCC orders placed recently with the current benchmark price for a newbuild VLCC around $1m more than what Prokopiou has paid.

After a disastrous start to the year thanks in large part to the coronavirus, Chinese yards are getting back to work, eager to fill out slots for late 2021 and early 2022 and brokers report that prices are extremely negotiable in the People’s Republic at present.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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