One of the world’s largest charterers, Trafigura, is addressing the market shortage of modern supertanker tonnage by signing up to build its first VLCCs.
The Singapore-headquartered global commodities trader has contracted Jiangsu New Hantong Ship Heavy Industry in China for the construction of two 319,000 dwt crude carriers, delivering in July and September of 2026.
The order for the scrubber-fitted pair also marks Jiangsu New Hantong’s entry into VLCC shipbuilding and its largest ship in dwt terms to date, topping the 209,000 dwt newcastlemax bulker built for Oldendorff Carriers in 2021.
With one of the smallest orderbooks of all sectors and only a handful of VLCCs delivering this and next year, many high-profile shipowners, including Fredriksen, Marinakis, Troim and the Saverys family, have jumped on available newbuilding slots.
Not to mention the pressure of the ageing sector, last year saw a record-low number of 22 ships entering the global VLCC fleet. Less than 30 ships have been ordered this year, and the reduced yard capacity, with orderbooks mostly filled by other sectors, shows owners seeking alternatives, in Trafigura’s case at a newcomer in the VLCC segment, to meet vessel requirements backed by expected growth in global oil demand.
Prices vary, with Fredriksen’s Seatankers paying Dalian $120m per ship, while Marinakis’ newbuilds at the same yard are estimated at $140m. Financial details of Trafigura’s and Jiangsu New Hantong’s VLCC debuts were not disclosed, but industry sources estimate a price tag of no more than $120m. Clarksons’ most recent data shows new VLCC ships of 315,000–320,000 dwt at approximately $128m. DHT also recently booked up to eight ships in South Korea, costing each about $128.5m on average.
