Tanker Orders Surge: 69 Ships to China, 22 to South Korea
The ongoing conflict between the United States and Iran has created a significant business opportunity for Chinese shipyards. As the Hormuz Strait remains blocked, shipping companies are rushing to order large-scale oil tankers.
According to recent maritime industry reports, the prolonged instability in the Middle East has triggered fierce competition among shipping firms to expand their transport capabilities. With tankers now forced to take longer routes around the Persian Gulf to avoid the war zone, the need to replace aging vessels has become urgent.
Demand has particularly spiked for Very Large Crude Carriers (VLCCs)—supertankers capable of transporting over 2 million barrels of crude oil in a single voyage.
Industry analysts note that Chinese shipyards are capitalizing on this opportunity through their robust production capacity, competitive pricing, and faster construction timelines.
Data from Clarkson Research, a UK-based maritime analysis firm, reveals that 91 crude oil tankers were ordered globally this year—a dramatic increase from just 5 orders during the same period last year.
China secured 69 of these contracts (75%), while South Korea received the remaining 22 orders.
Swiss shipping company Advantage Tankers commissioned Dalian Shipbuilding Industry Co. to build two VLCCs, each with a capacity of 307,000 deadweight tons. These vessels are scheduled for delivery in Q2 2028 and Q3 2029 respectively.
Additionally, Swiss commodities trading firm Mercuria Energy Group recently signed a $650 million shipbuilding contract with a Chinese shipyard. The deal reportedly includes up to four VLCCs and two product tankers.
Industry observers emphasize that orders are flooding to Chinese shipyards primarily because of their shorter delivery schedules compared to competitors.