Zodiac Maritime is continuing its aggressive tanker expansion strategy with a fresh order for four suezmax newbuildings at Chinese shipyard Jiangsu New Hantong Ship Heavy Industry.
The latest deal pushes Zodiac’s total suezmax orderbook to nine vessels, with deliveries of the newly ordered ships scheduled for 2029.
While the company has not disclosed financial details, current broker estimates place the value of comparable suezmax newbuildings at Chinese yards at around $89 million per vessel. Based on those market levels, the four-ship deal could represent an investment of approximately $356 million.
The move highlights Zodiac Maritime’s growing commitment to the suezmax segment as the company steadily expands and modernises its crude tanker fleet. Once all vessels are delivered later this decade, the company’s suezmax fleet is expected to nearly double in size.
The London-headquartered owner has already been active in renewing its tanker portfolio over recent years. Earlier this year, Zodiac took delivery of its final Japanese-built suezmax vessel, continuing a broader transition toward newer and more efficient tonnage.
The latest agreement also strengthens the company’s relationship with New Hantong, which has become an increasingly strategic construction partner for Zodiac. The owner previously placed several VLCC orders at the same Chinese yard, with shipbuilding databases indicating that up to 10 very large crude carriers are currently on order there. Those VLCC contracts were reportedly priced at around $120 million per ship.
Beyond crude tankers, Zodiac Maritime continues to expand across multiple shipping sectors as part of a wide ranging fleet development programme. Including vessels currently under construction, the company now counts around 80 tankers either operating or on order across crude, product, gas and chemical carrier segments.
The diversification strategy extends well beyond the tanker market. Recently, the Eyal Ofer-controlled group added two 7,000 CEU LNG dual-fuel car carriers at Yantai CIMC Raffles for delivery in 2028, further strengthening its growing vehicle carrier activities.
At the same time, Zodiac has also entered the ammonia shipping sector through a separate series of ammonia carrier orders placed at Hanwha Ocean, underlining the owner’s increasing focus on future fuel and alternative energy shipping markets.
