Greek shipowner Dynacom is expanding its newbuilding program with Hengli Heavy Industry after signing contracts for eight vessels in a deal worth around $1 billion.
They comprise a mix of very large crude carriers (VLCCs) and very large liquefied ammonia carriers (VLACs) of 93,000 cu meters. Hengli Heavy Industry did not say how many of each type of vessel were included in the latest order.
The deal also strengthens Hengli Heavy Industry’s position in the growing ammonia-carrier market. The Chinese shipyard is among the few shipbuilders in the country confirmed to have VLAC construction capabilities and it has developed the R&D and final assembly manufacturing capabilities for this type of vessel independently.
Dynacom’s relationship with Hengli has also evolved quite a bit in recent years. In July 2026 the Greek shipowner placed its first ever order for a VLAC with the yard, entering the ammonia gas carrier segment.
The new contracts are a follow-up to a partnership that started in 2023 with bulk-carrier projects. Since then, the collaboration between the two companies has been extended to several vessel categories including VLACs, VLCCs, Suezmax and Kamsarmax tankers.
In total, Dynacom has more than 50 newbuildings on order with Hengli Heavy Industry, across its various programs.
The shipowner has already taken delivery of two VLCCs, two tankers and 13 Kamsarmax bulk carriers from the Chinese yard.
The Dynacom deal gives another boost to an already full VLAC pipeline at Hengli. Now the shipbuilder has the VLACs order book of the single shipyards in the world. Its order backlog extends through 2030.
The latest billion-dollar-plus commitment thus highlights not only the strength of the Dynacom-Hengli ties, but also the growing importance of ammonia-capable tonnage in the shipbuilding market.
