Venergy orders two VLCCs at Hengli, eyes two more in $300m bet on crude

Greek shipowner Venergy Maritime has entered the very large crude carrier (VLCC) market with a new order at China’s Hengli Heavy Industries. The company, led by Vyron Vasileiadis, has secured two firm newbuildings of 306,000 deadweight tonnes (dwt) each, with options for two additional vessels. Deliveries are scheduled for the first quarter of 2029, according to industry sources.

Venergy Maritime’s latest move reflects its rapid growth since Vasileiadis established the company as an independent shipowner last year. The firm initially entered the tanker sector by acquiring three MR2 product tankers. It then expanded its fleet with orders for eight MR2 newbuildings at South Korea’s K Shipbuilding and six LR2 tankers at China’s New Times Shipbuilding.

Expansion into larger tanker segments: Venergy

The company later ventured into larger crude carriers, securing eight suezmax newbuildings. These orders were placed across three shipyards: Shanghai Waigaoqiao Shipbuilding, Guangzhou Shipyard International, and Hengli Heavy Industries. The relationship with Hengli began in June with an initial two-plus-two suezmax contract, and Venergy exercised the two options in September, bringing its firm orders at the Dalian yard to four 158,000 dwt tankers.

The latest VLCC agreement adds two more firm crude tankers to Venergy’s portfolio, with the potential for two additional vessels if the options are exercised. Including its associated OceanV Maritime containership programme, Vasileiadis’ overall newbuilding pipeline could reach 34 vessels if all remaining options are confirmed. Financial details of the VLCC deal remain undisclosed.

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