Dynacom Tankers Management, led by George Prokopiou, is expanding its tanker shipbuilding program, signaling strong confidence in Chinese shipyards, even in light of new port fees on ships from China approaching the US.
With a fleet of over 130 vessels and plans to build around 100 more—including tankers, bulk carriers, and LNG carriers—George Prokopiou’s shipping group (comprising Dynacom for tankers, Dynagas for LNG carriers, and Sea Traders for bulk carriers) is making a return to China. The company has signed contracts with New Times Shipbuilding for two new 159,000 dwt Suezmax tankers, which are scheduled for delivery in 2028.
Equipped with Scrubbers
These two ships will utilize conventional fuels and will feature scrubbers for emissions control.
The estimated cost for these vessels is around $160 million.
Moreover, the Greek shipowner has announced plans to invest in new vessels that employ conventional fuels while integrating advanced technologies to minimize environmental impacts.
By 2025, George Prokopiou is anticipated to take delivery of 27 new ships. According to Clarksons, Dynacom has placed orders for 49 tankers by April, the highest number globally, surpassing Union Maritime, which has ordered 47 tankers.
Analysts note that the US Trade Representative’s (USTR) recent plan regarding port fees has raised significant concerns in the world’s leading shipbuilding nation. However, the competitiveness of Chinese shipyards appears to remain strong, as evidenced by Dynacom’s new orders with New Times.
There is also optimism that orders for other ship types impacted by the port fees will persist. HSBC suggests that potential reductions in these fees could alleviate uncertainties for non-Chinese companies seeking to build new ships, a development that would be particularly advantageous for Chinese shipyards. For instance, MSC has returned to China to place an order for six 22,000 TEU containerships.
