Trader Mercuria in discussions over VLCC shipbuilding project in China

According to shipbroking and market sources, the company is in talks with CSSC’s Dalian Shipbuilding Industry Corp (DSIC) for the construction of two 306,000-dwt vessels, with delivery anticipated in 2029.

If finalised, this would mark the second recent co-operation between the two parties. In mid-January, DSIC announced a contract for two firm plus two optional 114,000-dwt Aframax/LR2 tankers for an undisclosed well-known European shipping company. Shipbrokers have identified Mercuria as the counterparty.

Founded in Geneva by Swiss traders Marco Dunand and Daniel Jaeggi, Mercuria was notably active in fleet expansion throughout 2024, with newbuilding deals for VLCCs, LR1, and MR product tankers at Chinese shipyards. The company had previously ordered VLCCs at CSSC’s Shanghai Waigaoqiao Shipyard.

MM Marine, the Greece-based shipmanagement subsidiary of Mercuria Energy Group, currently oversees a fleet of 36 vessels, predominantly product and crude oil tankers, according to shipping platform data.

Riviera also reported last year that Mercuria had entered into dry bulk ownership with the purchase of Capesize bulk carriers.

VLCCs have dominated tanker ordering so far in 2026, with Chinese shipbuilders securing the majority of contracts. 

Analysts told Riviera that in the current market environment, newbuildings make sense: a significant portion of the fleet is ageing, charter rates have surged, and secondhand vessel prices have reached record highs.