Piraeus-based Venergy Maritime has exercised newbuilding options for two additional very large crude carriers at China’s Hengli Shipbuilding, doubling the Greek owner’s debut VLCC commitment to four vessels. The company, led by shipowner Vyron Vasileiadis, confirmed the move this month, taking up the options attached to an October contract for two firm 306,000 dwt crude carriers.
All four VLCCs are scheduled for delivery in 2029. The order is the latest step in a rapid fleet-expansion campaign that has seen Vasileiadis commit more than $2 billion to newbuilding tonnage across tankers and containerships in roughly sixteen months since entering shipowning independently.
Options Converted Into Firm Tonnage
Venergy’s relationship with Hengli began in June with a contract for two firm suezmax tankers of 158,000 dwt, alongside options for two more units that were subsequently confirmed in September, taking that series to four vessels. The owner then placed its first VLCC order at the yard in October, again structured as two firm ships with options for a further pair.
With the latest confirmation, those VLCC options have now been converted into firm contracts, bringing Venergy’s confirmed Hengli programme to eight tankers split evenly between the suezmax and VLCC segments. The contract value of the newest VLCC agreement has not been disclosed, and the signing was marked at Hengli’s facilities between Vasileiadis and shipyard executive Chen Hanlun.
A Fast-Growing Newbuilding Platform
The VLCC order lifts Venergy’s overall tanker newbuilding programme to 26 ships spanning the MR2, LR2, suezmax and VLCC classes, built across multiple Asian yards. Including eight 1,900 teu containerships contracted through affiliate OceanV Maritime at Huangpu Wenchong Shipbuilding, the wider group’s newbuilding pipeline now totals 34 vessels.
Vasileiadis entered shipowning independently less than two years ago through the acquisition of three secondhand MR2 product tankers, before rapidly diversifying into larger crude tanker classes and containerships. Venergy Maritime operates as part of the Piraeus-based Vasileiadis Group of Companies, which also has decades of experience in port reception and environmental services across the Mediterranean, Balkans and Egypt.
Owner Statement and Market Backdrop
In a statement posted by the company, Venergy Maritime said the investment marks another significant step in the development of our tanker fleet, reinforcing our presence in the crude oil transportation segment. The company added that it reflects the strength of our partnership with Hengli Shipbuilding and our confidence in the long-term fundamentals of the tanker market.
The order underscores continued appetite among Greek shipowners for VLCC tonnage amid a broader wave of newbuilding activity in the tanker sector, with Hengli securing a steady flow of orders from international owners as Asian yard capacity remains tight heading into 2027 and beyond. Greek interests overall have placed hundreds of new tanker orders in 2026, accounting for a substantial share of global tanker ordering activity this year.
Why it matters
The order adds to a surge in VLCC and crude tanker contracting by Greek owners, reinforcing Greece’s role as the world’s largest shipowning nation by tonnage and deepening ties between Piraeus-based companies and Chinese shipbuilders. With Hengli and other Asian yards facing tight delivery slots into 2027 and beyond, rapid fleet-building campaigns like Venergy’s will shape future VLCC supply and crude oil transport capacity as the newbuildings enter service from 2028-2029.
Source: Splash247
