Greek tanker company Chemnav Shipmanagement has been linked to an order for two 158,000 dwt Suezmax crude carriers at Penglai Zhongbai Jinglu Ship Industry in China, with Allied Shipbroking reporting a price of around US$82 million per vessel. The estimated US$164 million deal takes Chemnav’s reported Suezmax newbuilding programme to four ships and adds another customer to Jinglu’s expansion into large crude tanker construction.

Allied details the Jinglu order

Allied’s week 42 market report, published on 20 October 2026, lists Chemnav Shipmanagement as the buyer of two 158,000 dwt tankers at Jinglu. Its reported transactions table records a price of approximately US$82 million each and deliveries from the second half of 2029. The entry is dated 16 October, which should not be taken as confirmation of the contract signing date.

The combined US$164 million valuation is calculated from Allied’s reported unit price, rather than a contract total announced by the parties. Delivery dates also remain subject to clarification. Chemnav’s website gives early 2029 and early 2030 for its four Suezmax newbuildings as a group, without identifying the yards or matching individual ships to delivery slots.

Four Suezmax newbuildings across two yards

Established in 2006 and based in Athens, Chemnav says it has been responsible for operating close to 70 vessels since inception and currently manages 17 crude and product tankers. It has also been appointed to manage two MR tanker newbuildings scheduled for 2027 and four Suezmax newbuildings due in early 2029 and early 2030. These disclosures confirm six forthcoming newbuilding management assignments, although the website does not identify the contracting buyer entities, shipyards or prices.

Chemnav’s return to newbuilding investment predates the Suezmax orders. G. Moundreas’s week 22 market review for 2023 recorded an order for two 50,000 dwt MR product tankers at South Korea’s K Shipbuilding. Its subsequent investment in Suezmaxes extends that activity into larger crude carriers, while the current MR newbuilding assignments show that product tankers remain part of its fleet development.

Chemnav ordered an earlier pair of Suezmaxes at New Times Shipbuilding in September 2025, with delivery scheduled for the first quarter of 2029. The Jinglu pair therefore builds on an existing commitment to the segment, bringing the reported programme to four vessels across two Chinese shipyards.

Jinglu adds a second Suezmax customer

The reported Chemnav order follows a four-vessel contract associated with Singapore’s X-Press Feeders. In an announcement dated 28 October 2026, the Penglai District Bureau of Commerce said Jinglu had secured four 157,000 dwt Suezmax tankers from X-Press Feeders, worth approximately US$320 million in total and scheduled for delivery in 2029–2030. Splash identified Eastaway, within the X-Press Feeders group, as the customer for that series.

Taken together, the government announcement and Allied’s transaction record point to six Suezmax newbuildings for two customers. The contracts cover ships of 157,000–158,000 dwt, with reported delivery windows beginning in 2029. The commerce bureau described the X-Press Feeders deal as Jinglu’s first Suezmax contract and said the yard’s previous tanker construction had been limited to vessels of up to 50,000 dwt. It also noted that Jinglu entered the large containership market in 2024.

Deliveries extend the investment horizon

Chemnav’s disclosed schedule places the MR newbuildings ahead of its larger crude carriers, spreading the arrival of new tonnage over several years. The investment programme extends beyond current freight market conditions: the commercial outcome of the Suezmax orders will depend on the supply and demand balance when the vessels enter service, as well as their financing costs and employment arrangements.

Chemnav says its chartering business serves major oil companies and international commodity traders through a combination of spot and period employment. It also offers asset management, including vessel sales and purchases on behalf of its principals. Within that business model, the new Suezmaxes would broaden the crude carrying capacity available to the company and its clients. Individual delivery dates, financing arrangements and charter coverage will provide the next measures of how this expansion is taking shape.