This is reported by the Chinese edition of the South China Morning Post (SCMP). The article notes that the blockade of the Strait of Hormuz and the shortage of tankers have spurred a wave of orders for supertankers at Chinese shipyards. Swiss and Asian companies are moving contracts to China, strengthening its leadership in global shipbuilding.
According to the SCMP, at least two Swiss firms and one Singaporean company have placed orders for supertankers at Chinese shipyards in the past few weeks.
Thus, the Swiss company Advantage Tankers, which has long depended on South Korean shipyards, has placed an order in China for two 307,000-tonne-displacement extra-large tankers (VLCCs). The vessels are scheduled for delivery in the second quarter of 2028 and third quarter of 2029 respectively, but prices have not been disclosed.
Geneva-based Mercuria Energy Group, one of the world’s leading independent commodity traders, has signed shipbuilding contracts in China worth nearly $650 million. The order includes up to four VLCCs and two LR2-class product tankers, which are expected to be delivered by 2029.
Following the US-Israeli operation, Iran announced the suspension of trade through the Strait of Hormuz, through which 15-20% of the world’s crude oil, condensate and refined petroleum products and more than 30% of LNG shipments passed.
The publication notes that such demand is due to the fact that the fleet is aging and bypass routes around the dangerous Persian Gulf zone require more ships and travel time.
