The VLCC newbuilding market is heating up again as the fourth quarter unfolds, with major shipowners rushing to secure yard slots amid surging tanker earnings and tightening green compliance rules.

In Asia, HMM has confirmed new orders for 12 LNG-fuelled 13,000 TEU containerships and two VLCCs worth around KRW 4 trillion, targeting delivery by 2029. Capital Group has expanded its tanker portfolio with a 306 k DWT VLCC at Hengli Heavy Industry (USD 118 million), in addition to its ongoing projects at CSSC Tianjin and Hanwha Ocean, pushing its VLCC orderbook into double digits. Meanwhile, Bruton Ltd., controlled by Tor Olav Trøim, has placed a 2 + 2 VLCC order at New Times Shipbuilding.

Adding further momentum, COSCO Shipping Development (601866) has announced an order for six 307,000 DWT VLCCs featuring methanol + LNG-ready dual-fuel designs, valued at approximately RMB 5.09 billion. The vessels will be built by CSSC Dalian Shipbuilding Industry and delivered between 2027 and 2028. Upon delivery, all six ships will be placed on long-term time charter to COSCO Shipping Energy (CSET), reflecting the group’s integrated “build–lease–operate” strategy and its focus on green, efficient, and financially synergized fleet renewal.

Standard scrubber-fitted VLCCs are trading near USD 118 million, while LNG-dual-fuel units are reaching USD 128 – 140 million. Yard slots across China, Korea, and Japan are now largely booked through 2029, making this window a critical one for owners looking to lock in future-proof tonnage.

China’s shipyards continue to strengthen their position in the high-end tanker segment—combining scale, delivery reliability, and green-fuel readiness to attract global orders. The VLCC orderbook now reflects a structural shift driven by strong cash flows, regulatory transition, and long-term fleet optimization.