As first reported by Riviera last month, the Greek owner had signed a contract for one firm and one optional 319,000-dwt VLCC at CSSC Qingdao Beihai. The option has now been confirmed.
According to shipbroking and market sources, the first vessel is scheduled to join the fleet in Q4 2028, with the second expected to follow in Q1 2029.
The shipbuilder has said that the pair will be equipped with energy-saving devices to enhance operational efficiency and will feature an ammonia-ready design. Both newbuildings will comply with the latest IMO regulations.
Cape Shipping recently confirmed its return to the tanker market, unveiling a 10-vessel fleet made up almost entirely of newbuildings. The fleet comprises two MR tankers, four Aframaxes, two Suezmaxes and two LR1s, all built or scheduled for delivery between 2024 and 2027.
Alongside its tanker expansion, Cape Shipping remains active in the bulk carrier and container vessel sectors, controlling seven units in each segment.
VLCC market heats up as slots tighten
The VLCC newbuilding market has started the year strongly, with further orders believed to be in the pipeline.
Riviera reported this week that trader Mercuria is in discussions with CSSC’s Dalian Shipbuilding Industry Corp (DSIC) for the construction of two 306,000-dwt VLCCs, with deliveries anticipated in 2029.
Shipbrokers note that 2028 delivery slots for large tankers at top-tier shipyards are now almost fully booked, with 2029 positions increasingly becoming the norm for new projects.
This shift in delivery timelines is already affecting some Greek owners seeking tanker newbuildings. However, overall market appetite remains strong, with China emerging as the primary destination.
