Turkish shipowner Densay Shipping is accelerating its deployment in the tanker market by placing an additional order for two 50,000 dwt MR product tankers at Wuhu Shipyard.
According to foreign media reports, the latest two vessels are option ships from an order for four MR-type vessels signed by Densay Shipping at the end of 2024. The first four vessels are scheduled for delivery in 2026, with the subsequent two to be delivered in 2027. These vessels use conventional fuel, are equipped with scrubbers, and are designed to transport both oil and chemical cargoes. The specific ship price was not disclosed.
For reference, data from Clarksons shows that the current newbuilding price for a 47,000-51,000 dwt product tanker is approximately $48.5 million (about RMB 345 million), a 7% decrease from the $52 million price seen during the same period last year.
This additional order brings Densay Shipping’s total number of orders at Wuhu Shipyard to six, marking a key expansion in the company’s vessel type diversification.
It is understood that Densay Shipping is a global shipping company long known for its dry bulk shipping business. It owns a fleet of approximately 40 vessels, including Ultramax, Supramax, Handysize, and Capesize bulk carriers, providing maritime transport services for grain companies, oil majors, commodity traders, mining companies, steel mills, utility suppliers, and industrial users.
The order at Wuhu Shipyard represents Densay Shipping’s first direct foray into the newbuilding tanker sector, forming an important part of its fleet renewal strategy focused on modern vessel types and diversification. In addition to its newbuilding projects in China, Densay Shipping has also signed a bareboat charter contract for an MR product tanker under construction at Japan’s Imabari Shipbuilding, which is expected to be delivered in mid-2026.
It is reported that Wuhu Shipyard’s predecessor was the Fujiheng Machinery Plant founded in 1900, giving it a 123-year history. In 2007, Chery acquired Wuhu Shipyard, which was restructured through asset reorganization to become Wuhu Xinlian Shipbuilding Co., Ltd. It relocated to the new Sanshan plant area in 2010. It is now renamed Wuhu Shipyard Co., Ltd. and is a top-tier modern shipbuilding enterprise in China.
As the largest shipbuilding enterprise in Anhui Province, Wuhu Shipyard is committed to the development and manufacturing of intelligent and green ships. Its commercial ship sector has matured into five main areas: liquid cargo ships, offshore vessels, bulk carriers, special purpose ships, and multi-purpose vessels. Currently, Wuhu Shipyard comprises the Wuhu Shipyard headquarters, the Weihai Shipbuilding Base, Anhui Haizhi Equipment Research Institute, Shanghai Haizhi Zhiyuan Technology Co., Ltd., Wuhu Fujiheng Machinery Company, Yingxing Financial Leasing (Anhui) Co., Ltd., and Sandianshui New Energy Technology Co., Ltd.
Excluding the latest orders, data from Clarksons shows that Wuhu Shipyard currently holds a total orderbook of 103 vessels, amounting to 3.3733 million dwt. This includes 69 chemical tankers, 12 multi-purpose vessels, 10 bulk carriers, 3 container ships, 2 asphalt carriers, 2 multi-functional support vessels, and 5 other vessel types, with deliveries scheduled until 2029.
