Greek shipowner George Procopiou’s Dynacom Tankers is said to have stacked its orderbook with panamax product carriers.
According to shipbuilding sources, it has commissioned China’s Yangzijiang Shipbuilding to build a series of four conventionally fuelled 75,000-dwt LR1 tankers.
They said the contract was signed several weeks ago but went unreported.
Dynacom now has six LR1 tankers booked at Yangzijiang.
The earlier pair, ordered last year, reportedly cost $53m apiece.
The price of Dynacom’s latest newbuildings has yet to emerge.
Brokers said the ship type costs about $55m in today’s market.
The shipowner and shipyard have been contacted for comment.
Sources said Yangzijiang is scheduled to deliver Dynacom’s first two LR1 tankers in 2026 and the other four in 2028.
Dynacom also has six LR1s under construction at New Times Shipbuilding.
Ordered last year at about $53m per ship, they are due to be delivered in 2026 and 2027.
Last week, Dynacom was linked to an order for four 158,000-dwt suezmax tankers at Samsung Heavy Industries.
The South Korean yard has subcontracted the deal to PaxOcean Zhoushan in China.
This is the first time SHI has roped in a Chinese shipyard to construct newbuildings.
The suezmaxes, which were reported to cost $83.5m apiece, are slated for delivery by December 2027.
Clarksons’ Shipping Intelligence Network lists Dynacom as having 42 other tanker newbuildings on order, including eight VLCCs, 10 suezmax tankers, excluding SHI’s four ships, and 16 aframax product carriers.
Yangzijiang is a relative newcomer to the LR1 segment.
It added the ship type to its portfolio at the end of 2022 when Greek owner Kriton Lendoudis’ Evalend Shipping commissioned three vessels there.
Evalend now has 10 LR1s on order at the shipyard, according to Clarksons.
Yangzijiang has so far accumulated 24 panamax product carrier newbuildings on its orderbook.
It is scheduled to deliver its first LR1 to Evalend early next year.
Singapore-listed Yangzijiang disclosed that it has signed contracts for 98 newbuildings worth $11.64bn this year, a 160% increase on its $4.5bn target.
