COSCO SHIPPING Development’s US$2 billion tanker order leads the latest industry developments, alongside further fleet investment, stronger earnings forecasts, a vessel attack in the Persian Gulf and major offshore wind financing.

12 November 2026

COSCO SHIPPING Development Signs US$2 Billion VLCC Deal

China’s COSCO SHIPPING Development has signed contracts for 16 very large crude carriers (VLCCs), each of 307,000 dwt, at Dalian Shipbuilding Industry. The order is valued at RMB13.43 billion, approximately US$2.01 billion, excluding tax.

Scheduled for delivery between October 2029 and December 2030, the vessels will be chartered to a COSCO SHIPPING Energy Transportation subsidiary under 20-year bareboat arrangements. The designs include provisions for future methanol and LNG conversion. The transactions remain subject to shareholder and other required approvals.

Hapag-Lloyd Lifts 2026 EBIT Forecast

Hapag-Lloyd has raised its full-year operating profit, or EBIT, forecast to US$2.0–2.4 billion, from US$1.25–1.75 billion, as continued strength in spot freight rates supports better-than-expected fourth-quarter trading.

The German container carrier also increased its EBITDA guidance to US$4.6–5.0 billion, from US$3.9–4.4 billion. Announcing the revision on 11 November, it said freight-rate volatility and geopolitical developments continued to create considerable uncertainty.

Teekay Orders Four Tankers in China and South Korea

Teekay Tankers has disclosed orders for two Aframax/LR2 tankers at a Chinese shipyard and two Suezmaxes at a South Korean yard, with options for another two Suezmaxes. Deliveries are expected in 2030.

The company reported third-quarter net income of US$195.2 million. Fourth-quarter spot bookings averaged US$272,000 per day for Suezmaxes and US$208,300 for Aframax/LR2s, covering approximately 63% and 53% of their respective spot days. Shipyard names and construction prices were not disclosed.

Volare Agrees US$210 Million Acquisition of Hengli-Built VLCC

Volare Shipping has agreed to acquire the newbuilding VLCC Veni Vidi Vici for US$210 million from an affiliate of Trafigura Maritime Logistics, its indirect majority shareholder.

The vessel is undergoing sea trials at China’s Hengli shipyard, with delivery scheduled for 20 November. Completion remains subject to financing and customary closing conditions. Delivery would increase Volare’s fleet afloat to seven VLCCs, with eight additional newbuildings due in 2027–2028.

Monjasa Adds Five Product Tankers

Marine fuel supplier Monjasa has acquired five sister product tankers, each of 16,621 dwt, from Bernhard Schulte. Four have already been delivered and deployed in West Africa and Northwest Europe, while the fifth is due by the end of November.

The 2010–2011-built vessels form part of a fleet renewal programme that brings Monjasa’s owned fleet to 20 tankers, supplemented by approximately 10 time-chartered ships. The purchase price was not disclosed.

Four Crew Injured in Persian Gulf Tanker Attack

Four crew members were injured when a projectile struck the Liberia-flagged VLCC Fujairah Energy on 10 November while sailing from Al Ruwais to Dubai, The Statesman reported, citing Indian Shipping Minister Sarbananda Sonowal.

An Indian seafarer sustained minor injuries and was taken ashore for medical examination. The remaining 18 crew members were reported safe. The minister said authorities remained in contact with the vessel’s management. His statement did not identify the attacker.

Maersk Investigates Cybersecurity Incident

Maersk has confirmed unauthorised access and data extraction involving a local legacy system inherited through an earlier acquisition.

The company said it had secured the affected system and that an investigation remained ongoing. Its findings so far showed no indication of an impact on other Maersk systems or connected customer and partner systems. Maersk said it did not currently anticipate disruption to customers’ operations.

RWE and KKR Complete Financing for UK Offshore Wind Projects

RWE and KKR have completed their 50:50 joint venture transaction and reached financial close on the Vanguard West and Vanguard East offshore wind projects.

The developments off England’s Norfolk coast have a combined capacity of 2.8 GW and represent approximately £12 billion in investment, including transmission infrastructure. Offshore construction is scheduled to begin in early 2027, with full commissioning expected in 2030. RWE will lead project delivery.

Report Links Yangzijiang Maritime to TORM’s LR2 Venture

TradeWinds has identified Yangzijiang Maritime Development as TORM’s partner in an eight-ship LR2 product tanker newbuilding programme in China.

TORM previously confirmed the eight vessels under a 50:50 joint venture structure, with deliveries expected in 2029 and 2030. Its regulatory filing did not identify the partner. The reported connection concerns the previously announced programme.