Chemnav steps up suezmax bet with Jinglu pair

Greek tanker owner Chemnav Shipmanagement has expanded its suezmax newbuilding programme with two more vessels in China, taking its orderbook in the segment to four ships.

The Paul Coronis-backed company has been linked by shipbroking sources to a contract for two 158,000 dwt crude carriers at Penglai Zhongbai Jinglu Ship Industry, with deliveries expected in … Menu Europe Greater China Shipyards Tankers Chemnav steps up suezmax bet with Jinglu pair Adis Ajdin October 16, 2026 0 298 1 minute read Penglai Zhongbai Jinglu Ship Industry Penglai Zhongbai Jinglu Ship Industry Greek tanker owner Chemnav Shipmanagement has expanded its suezmax newbuilding programme with two more vessels in China, taking its orderbook in the segment to four ships.

The Paul Coronis-backed company has been linked by shipbroking sources to a contract for two 158,000 dwt crude carriers at Penglai Zhongbai Jinglu Ship Industry, with deliveries expected in 2029.

The latest deal follows a low-profile order for two suezmaxes at New Times Shipbuilding in September last year, with delivery scheduled for the first quarter of 2029.

Chemnav has since updated its website to confirm four suezmax newbuildings scheduled for early 2029 and early 2030, although it has not named the yards involved.

The Athens-based outfit now has six tankers under construction across China and South Korea, including two 50,000 dwt MR product carriers booked at K Shipbuilding for delivery in 2027.

Chemnav, established in 2006, currently manages 17 crude and product tankers, according to its website.

The company has been rebuilding its newbuilding exposure since returning to South Korean yards in 2023 after a lengthy absence.

The owner previously ordered three MR tankers at K Shipbuilding, a programme expanded in 2024, and had operated a secondhand suezmax several years ago after buying a 2003-built vessel from Teekay Tankers.

For Penglai Jinglu, the latest contract adds to its move into larger crude carriers.

The Chinese builder has also secured an order for four 157,000 dwt suezmaxes from Eastaway, the tanker arm of Singapore-based X-Press Feeders, with deliveries stretching into 2030.

Those vessels were reported at around $80m apiece, although no price guidance has emerged for Chemnav’s latest pair.