Zodiac Maritime, a UK-based shipping firm owned by Israeli magnate Eyal Ofer, is making significant strides in the crude oil transport sector. The company has placed a substantial order for new vessels with a preferred private Chinese shipyard as part of its extensive fleet renewal initiative across various shipping segments. Specifically, Zodiac Maritime has signed a contract with Jiangsu Hantong Ship Heavy Industry Co., Ltd. for the construction of four Suezmax tankers, slated for delivery in 2029. While the exact transaction value remains undisclosed, estimates suggest that the current newbuilding cost for Suezmax tankers at Chinese shipyards is around $89 million per vessel, totaling approximately $356 million for the four tankers.
This order underscores Zodiac Maritime’s commitment to expanding its Suezmax tanker fleet, increasing its newbuild orders for this vessel type to nine. The delivery of these new tankers is expected to double the size of the company’s Suezmax fleet. Notably, this marks the first order from Hantong Shipbuilding for Suezmax tankers, extending the partnership from the Very Large Crude Carrier (VLCC) segment into the medium-sized tanker market.
In addition to the tanker orders, Hantong will also construct six 9,000 TEU container ships for Zodiac Maritime, estimated at $100 million each. The total investment for these 18 new vessels across three different categories is projected to be around $1.936 billion. Zodiac Maritime is actively renewing its tanker fleet, with plans to receive two newly built Suezmax tankers from Japanese shipyards by early 2026. The expansion of the tanker fleet is part of a broader newbuilding strategy that includes orders for LNG dual-fuel PCTCs and Very Large Ammonia Carriers, marking the company’s entry into ammonia transport. Currently, Zodiac Maritime operates a diverse fleet of approximately 80 vessels across various sectors, including crude oil, refined products, liquefied gas, and chemicals.
