George Procopiou’s Dynacom Orders Eight Ships at Hengli in Near-$1B VLAC/VLCC Deal
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George Procopiou’s Dynacom has placed another eight-vessel newbuilding package with China’s Hengli Heavy Industries in a deal reported at close to $1 billion, further expanding one of the industry’s largest owner-yard construction programs. Hengli confirmed that the contracts cover VLCCs and 93,000-cbm very large ammonia carriers, while industry and Chinese reporting identifies the mix as six VLACs and two 306,000-dwt VLCCs. The six ammonia carriers would lift Dynacom’s VLAC program at Hengli from two ships to eight only months after its first move into the sector. The latest contracts bring the Dynacom-Hengli relationship to roughly 50 vessels spanning Kamsarmax bulkers, Suezmax tankers, VLCCs and VLACs, although contemporary sources differ slightly on the cumulative VLCC count. Dynacom is simultaneously pursuing one of shipping’s largest fleet-renewal programs, with Clarksons data cited by Riviera listing 78 tankers totaling 16.6 million dwt on order.
Dynacom's Latest Hengli Order
Another major package deepens George Procopiou's exposure to both conventional crude transportation and the emerging large-scale ammonia and LPG carrier market.
Hengli confirmed another eight newbuildings for Dynacom covering two high-value vessel sectors.
Hengli did not publish the split, but multiple industry reports identify six 93,000-cbm VLACs and two 306,000-dwt VLCCs.
Market reporting places the combined contract value just below the $1 billion threshold.
The additional six units follow Dynacom's initial two-ship 93,000-cbm order placed earlier in 2026.
The relationship now spans Kamsarmax bulkers, Suezmax tankers, VLCCs and large ammonia carriers.
Procopiou's Hengli Newbuilding Pipeline
The relationship has moved from conventional dry bulk construction into large crude tankers and now high-value gas carriers.
| Order / Program | Scale | Timing | Ship Specification | Commercial Position | Program Context |
|---|---|---|---|---|---|
| Latest Eight-Ship Package | NEW 8 Ships Reported value close to $1 billion. | Announced September 2026. Detailed delivery dates have not been publicly disclosed. | Hengli confirms a combination of VLCCs and 93,000-cbm VLACs. Industry reporting puts the split at six VLACs and two VLCCs. | Gives Dynacom simultaneous additional exposure to crude-oil transportation and the developing ammonia/LPG carrier market. | Hengli itself did not disclose the six-plus-two split, so the vessel allocation remains based on industry reporting. |
| Initial Dynacom VLAC Order | FIRST ENTRY 2 Ships | First reported in mid-2026 with expected delivery during 2028. | 93,000-cbm very large ammonia carriers designed for carriage of ammonia and LPG. | Market sources placed pricing near $115 million per vessel. | The new six-ship addition would increase Dynacom's reported Hengli VLAC position from two vessels to eight. |
| August VLCC Expansion | ADDITIONAL SERIES 4 VLCCs | Signed in August 2026, with market reporting indicating 2029 delivery slots. | Hengli's 306,000-dwt very large crude carrier platform. | Extends a relationship in which Dynacom has already taken delivery of Hengli-built VLCC tonnage. | Hengli said in August that Dynacom's cumulative VLCC contracts at the yard had reached 20. |
| Suezmax Program | LARGE SERIES 9 Ships | Contracted in February 2026 with deliveries expected to begin from 2028. | 158,000-dwt crude-oil tankers. | Nine Dynacom ships formed the majority of a ten-vessel Hengli package valued at between $700 million and $1 billion. | Establishes Hengli as a major supplier across both Dynacom's Suezmax and VLCC fleet-renewal programs. |
| Kamsarmax Program | DELIVERED 13 Ships | Hengli reported delivery of the 13th vessel, PAXOS, in May 2026. | Approximately 82,000-dwt Kamsarmax bulk carriers. | The bulk-carrier program formed the foundation of the modern Dynacom/Sea Traders relationship with the revived Chinese yard. | Hengli says the delivered vessels met international performance standards and helped underpin repeat orders in larger and more complex ship types. |
| Hengli Gas-Carrier Buildout | NEW SECTOR 93,000 m³ | Hengli launched its first 93,000-cbm VLAC in June 2026. | Large ammonia/LPG carrier with internally produced cargo tanks and LPG dual-fuel propulsion technology. | Moves the yard further into a ship type historically concentrated among major South Korean builders. | Hengli says its VLAC construction uses in-house cargo-tank capability and increasingly integrated marine-equipment production. |
VLAC + VLCC Newbuild Package Analyzer
Model the capital value and transport capacity of Dynacom's reported six-VLAC, two-VLCC package using editable vessel counts and market-price assumptions.
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