China’s Hengli Heavy Industry announced on Monday night that it has secured contracts for another ten 82,000 dwt dry bulkers from three unnamed European owners, extending its recent order spree amid a surge of overseas interest in Chinese newbuildings, reports Lloyd’s List.
According to market sources, each vessel is priced at around $35m, with deliveries scheduled for 2028-2029 based on Hengli’s current production timetable.
Hengli Heavy Industries bags 20 Kamsarmax orders
In total, Hengli has booked 20 kamsarmax bulkers in just two weeks, including six vessels signed on October 27 with Greece’s Efnav — the owner’s first newbuilding investment in more than five years — and another four ships from Eastern Mediterranean Maritime.
In addition to bulkers, the builder recently formalised contracts for two very large crude carriers and three 4,600 teu containerships, worth an estimated $400m in total, according to a statement on its social media account last week.
It is currently constructing its Phase III project in Dalian, which began in September.
The Yuan20bn ($2.7bn) industrial park will focus on the offshore and marine engineering sectors, once fully operational.
Hengli’s expansion has received consistent backing from the Liaoning provincial government, which aims to develop a world-class shipbuilding and offshore manufacturing cluster. The company has so far received a total of Yuan800m in government subsidies this year.
Hengli’s rapid growth comes amid improving market sentiment for Chinese shipyards. On October 30, China and the US agreed to suspend port-related fees for one year, easing a major headwind for the sector.
Industry analysts expect these developments to help channel a fresh wave of newbuilding orders toward Chinese builders.
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Source: Lloyd’s List
