George Procopiou’s Dynacom Tankers Management has returned to Hengli Heavy Industries for another eight newbuildings in a package worth close to $1 billion, further expanding one of the largest owner-yard programmes in shipping. Hengli has confirmed contracts covering eight vessels spanning VLCCs and 93,000 cu m very large ammonia carriers, with shipbuilding sources putting the split at six VLACs and two VLCCs. The latest contracts take the number of ships Dynacom has booked with Hengli beyond 50, spread across VLCCs, VLACs, suezmax tankers and kamsarmax bulkers, with the gas carrier tranche marking a sizeable step into a sector Procopiou only entered earlier this summer when Dynacom booked its first two VLACs at Hengli in July for around $115 million each.
The Hengli package is part of a broader ordering spree across the wider Procopiou group. Greek market sources have identified George Procopiou’s Dynagas as the previously unnamed owner behind a four-vessel, 200,000 cu m LNG carrier order at Samsung Heavy Industries valued at approximately $1.05 billion, announced days after the Hengli deal. Taken together, Greek industry estimates put Procopiou’s commitments at roughly 20 newbuildings across multiple vessel classes within about ten days, representing close to $3 billion in fresh investment, as the veteran Greek owner continues an aggressive fleet renewal drive spanning crude tankers, gas carriers and dry bulk tonnage at yards across China and South Korea.
Source: Splash247 — https://splash247.com/procopiou-lines-up-near-1bn-hengli-eight-ship-package/
Tags: Dynacom Tankers, George Procopiou, Hengli Heavy Industry, VLCC, Greek Shipping
