Greek Shipowner Expands VLCC Fleet with Major Chinese Newbuild Order

In a major fleet expansion move, Greek shipowner Evangelos Marinakis, through his company Capital Maritime and Trading, has signed contracts for 11 VLCC (very large crude carrier) newbuildings at China's Hengli Heavy Industry shipyard. The order, which was disclosed as part of a broader newbuild announcement by Songfa Ceramics - the parent company of Hengli Heavy Industry - represents a significant investment by Marinakis in the tanker sector. VLCCs are the largest class of crude oil tankers, capable of carrying up to 2 million barrels of oil. "This order demonstrates Marinakis' confidence in the long-term outlook for the tanker market," said a shipping analyst quoted by Splash247. "VLCCs remain a core part of most major shipowners' fleets, and Marinakis is clearly positioning Capital to benefit from expected demand growth." In a separate development, Canadian dry bulk owner and operator Fednav has also returned to Japan's Oshima Shipbuilding for a new series of 35,000 DWT handysize bulk carriers. Fednav has signed a letter of intent with Oshima for four 'laker' vessels - ships designed to navigate the Great Lakes - with deliveries expected by mid-2024. "Fednav has a long history with Oshima and these new eco-friendly handysizes will help us renew and expand our fleet," said a company spokesperson quoted by Splash247. "The Great Lakes market remains an important part of our global operations." The two newbuild orders highlight the continued investment and fleet renewal activity across different shipping sectors, as owners position themselves for the market conditions ahead.