New and Established Yards Enter Tanker Market for the First Time

Fifty-one vessels have been ordered for the first time at newbuild yards in 2026, up 34% from 38 in 2025, according to VesselsValue’s newbuild orderbook data. Eighteen more-established yards have now received their first Tanker orders in recent years, with more emerging; Anhui Zhongrun Heavy Industry received its first Tanker order of a Handy recently.

Yards breaking into the Tanker market Perhaps the clearest illustration of this pace is Hengli Shipbuilding, which built its first vessel only in 2024 and has since become the top Asian yard by orderbook size with 495 vessels on order — across Bulkers, Tankers, and Containers — and a value of USD 46 bil. Its rapid ascent from newcomer to market leader in under two years underscores how quickly new entrants have been able to capture significant order share amid the current capacity crunch.

Geographically, the trend is heavily concentrated in China, home to 11 of the 16 yards, though single entrants have also emerged in South Korea, Vietnam, Brazil, the US, and Philippines.

By sub-type, Aframaxes and Handy Tankers account for the majority of first-time activity. VLCC and Suezmax entrants, by contrast, tend to be established heavy-industry groups or joint-venture facilities, such as Wison New Energies Nantong (VLCC) and Guangzhou CSSC Shipbuilding Industry (Aframax, Handy Tanker, Suezmax), rather than genuinely new builders, pointing to a size-based divide in owner willingness to commit to unproven yards.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →