Foreign Media: The war between the US, Israel, and Iran is inadvertently boosting China's shipbuilding industry.
The conflict between the US and Israel against Iran has led to a blockade of the Strait of Hormuz for up to eight weeks, a critical maritime route carrying about one-quarter of global oil shipments by sea. The resulting shipping bottlenecks, soaring oil prices, and aging fleets have collectively driven up demand for very large crude carriers (VLCCs), each capable of transporting approximately 2 million barrels per voyage. Chinese shipyards, benefiting from ample production capacity, low costs, and shorter delivery times, have emerged as the biggest beneficiaries.
In recent months, multiple European and Asian companies have placed orders in China: Swiss Advantage Tankers ordered two 307,000-dwt VLCCs, scheduled for delivery in Q2 2028 and Q3 2029 respectively; Geneva-based commodities giant Mercuria signed a nearly $650 million shipbuilding contract including up to four VLCCs and two LR2 product tankers, to be delivered before 2029; Singapore’s Yangtze River Shipping Development ordered eight V-class VLCCs—their first entry into the large tanker market—with deliveries scheduled between 2028 and 2030.
Additionally, Advantage Tankers previously acquired a 319,000-dwt VLCC under construction at a Jiangsu shipyard (originally priced at around $119 million), whose current market value has risen to approximately $152 million.
Original Article: toutiao.com/article/1863168086713412/
Disclaimer: This article represents the personal views of the author.