en.Wedoany.com Reported - China's shipbuilder Hengli is expected to deliver at least 160 vessels by 2028, a target that highlights one of the most remarkable industrial expansions in shipbuilding history. According to the latest analysis by SSY (Simpson Spence & Young), the Dalian shipyard, which only acquired the former STX Dalian facility in 2022, has already accumulated at least 395 confirmed orders, equivalent to 12.2 million compensated gross tons (cgt), making it one of the world's largest private shipyards in just over four years. Aerial photos of the shipyard reveal a forest of gantry cranes, a scale rarely seen anywhere in the world.
According to SSY, the shipyard's first commercial deliveries only took place in 2024, with the real production ramp-up set to begin in the second half of this year. Delivery volumes are expected to increase from 17 vessels last year to approximately 80 this year, 120 in 2027, and at least 160 in 2028. Equally striking as the order book size is the speed at which shipowners have embraced this new builder. Hengli's client list already includes prominent Greek shipowners, publicly listed shipping companies, major liner operators, and Chinese state-owned groups. Part of the confidence stems from the industrial strength behind the project. Hengli is part of what SSY describes as China's third-largest private industrial group, which accounts for about one-third of Dalian's GDP, thus wielding significant influence and strong local government support. The shipyard's rapid rise also reflects the scarcity of newbuilding slots. With major shipyards in China, South Korea, and Japan effectively sold out until the next decade, Hengli can offer shipowners delivery slots otherwise unavailable.
Broker Hartland Shipping notes that China's shipbuilding expansion shows little sign of slowing down. "It seems a new Chinese shipyard opens or reactivates idle capacity every week," the broker observed. "They are not just building coastal vessels; they often dive straight into deep waters: very large crude carriers (VLCCs), Newcastlemax bulkers, or mainline container ships." Over the past two years, shipping media Splash has documented Hengli's rise, as the shipyard transformed the defunct STX Dalian site into a shipbuilding powerhouse. Earlier this year, Hengli began constructing three giant gantry cranes at its super dry dock, including two 2,000-tonne units with a record-breaking span of 256 meters. The shipyard has also announced a 13.5 billion yuan (approximately $1.9 billion) expansion plan that could make it the world's largest shipbuilding site.
According to VesselsValue data, Hengli is currently China's largest shipyard by order book. The company secured an average of one new order every three days throughout last year, a pace that has continued into this year. The current order book is heavily skewed towards tankers, accounting for about half of the contracted compensated gross tons. However, the delivery structure is becoming increasingly complex. After initially focusing on Kammsarmax bulkers, the shipyard is shifting to larger Capesize bulkers, VLCCs, Suezmax tankers, LR2 tankers, and large container ships exceeding 20,000 TEUs. Earlier this year, Hengli became the world's first shipyard to simultaneously launch four 306,000 deadweight ton VLCCs, a milestone that encapsulates the tremendous progress the company has made since its rebirth in 2022.
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