Greek fleet builder Venergy doubles down on tankers with fresh Chinese suezmax order

The Piraeus-based company, led by VyronVasileiadis, has signed firm contracts for two 158,000 dwtsuezmaxes at the Dalian yard, while securing options for two additional vessels.      The firm ships are scheduled for delivery in the fourth quarter of 2028, with the optional vessels set for delivery during 2029 if declared.      No contract price has been disclosed. However, recent broker estimates suggest similar Chinese-built suezmaxes are commanding around $89m apiece.

The latest deal marks another step in Venergy’s aggressive tanker expansion strategy and follows earlier suezmax orders placed at Chinese yards as the owner builds a sizeable crude carrier platform from scratch.      Venergy has adopted a diversified approach both in terms of vessel segments and shipbuilding partners. The company has spread its orders across several leading Asian yards, placing MR2 product tanker contracts at South Korea’s K Shipbuilding, LR2 orders at New Times Shipbuilding, and suezmax business with Hengli Shipbuilding, CSSC Guangzhou Shipyard International and Shanghai Waigaoqiao Shipbuilding.

The ordering spree comes less than a year after Vasileiadis entered shipping independently through the acquisition of three secondhand MR2 tankers. Since then, the company has moved at remarkable speed, building a sizeable orderbook spanning both tanker and containership sectors.

In roughly 11 months, the wider group has contracted 28 newbuildings across tankers and boxships, representing investments of more than $1.5bn before accounting for optional vessels. Including declared and outstanding options, the total investment pipeline is approaching $2bn and could rise further should additional vessels be exercised.

The latest agreement also underlines the growing importance of Hengli Shipbuilding in the international tanker market. The yard has emerged as one of China’s most active shipbuilders, attracting a steady flow of orders from owners seeking competitive pricing and available delivery positions.

Alongside Venergy Maritime’s tanker expansion, sister company OceanV Maritime has been building a foothold in the containership market, giving the V Group exposure to two of shipping’s key sectors. The broader V Group’s interests stretch beyond shipowning into shipping services, port reception facilities, waste management and alternative fuels. The latest suezmax order means the group’s fleet and orderbook now exceed 30 vessels within little more than a year of launching its independent shipping venture.