PS Places Major 12-Vessel Order at Hengli Heavy Industry, Strengthening its Fleet Expansion Strategy .
Singapore-based shipowner Eastern Pacific Shipping (EPS) has made a significant move to expand and modernise its fleet by placing an order for 12 newbuildings at Hengli Heavy Industry, further strengthening the growing partnership between one of Asia’s most dynamic shipowners and China’s rapidly emerging shipbuilding powerhouse. According to industry sources, the deal covers a diverse range of vessel types, signalling EPS’s strategic intention to increase capacity across both its tanker and container segments. The order comprises six Very Large Crude Carriers (VLCCs), two LNG dual-fuel Suezmax tankers, and four 6,000-TEU medium-sized container ships, marking one of the most substantial multi-type newbuilding packages secured by a Chinese private yard this year. Hengli Heavy Industry stated that the signing of this order reflects the “high level of confidence” EPS has placed in the shipbuilder’s technical expertise, production capabilities, and consistent performance. The company emphasised that this latest contract underscores its continued progress in the high-end vessel construction market—an area that Chinese shipyards have increasingly targeted as they compete alongside long-established builders in South Korea and Japan. The newly ordered VLCCs are expected to meet the latest environmental and efficiency standards, while the LNG dual-fuel Suezmax tankers reflect EPS’s ongoing investment in lower-emission propulsion technologies. Industry analysts noted that the inclusion of medium-sized 6,000-TEU container ships also highlights the growing demand for flexible capacity in regional and mid-range trade lanes, a segment that has seen high utilisation rates despite broader fluctuations in global shipping markets. Hengli has been on a strong upward trajectory throughout the year. Beginning in September, the yard secured a series of newbuilding commitments covering a broad spectrum of ship types—including bulk carriers, oil tankers, and container vessels—signalling the company’s ambition to establish itself among China’s top-tier private shipbuilders. By November, the company’s total order volume for 2024 had approached 100 vessels, bringing its construction backlog close to full capacity through 2029. Such a deep delivery schedule is increasingly seen as a mark of credibility for Chinese yards competing for high-value international orders. In a statement, Hengli highlighted the elements it believes have driven its rapid rise in the global shipbuilding market: “As a privately owned shipbuilding giant, Hengli Heavy Industry has continuously achieved breakthroughs in high-end vessel manufacturing. Through advanced technological innovation, robust shipbuilding capacity, and a strong advantage in delivery cycles, the company has earned the trust of numerous internationally renowned shipping companies,” the yard said. For EPS, one of the world’s most active shipowners, the order aligns with its long-term strategy of fleet renewal and expansion, particularly with an emphasis on alternative-fuel propulsion and energy-efficient vessel designs. The company has been steadily diversifying its fleet across tankers, container ships, bulk carriers, and gas carriers, while strengthening relationships with both established and emerging shipyards. The deal also reflects a wider industry trend: major owners are increasingly placing large, multi-segment orders as part of long-term planning, anticipating future environmental regulations and sustained demand for fuel-efficient global tonnage.
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