Monte Nero expands tanker play with LR2 order in China

Greek interests remain active in the newbuilding market, with Monte Nero Maritime securing a pair of LR2 product tanker orders at China’s fast-growing Hengli Shipbuilding.

In a regulatory filing over the weekend, Songfa Ceramics, the Shanghai-listed parent of Hengli Shipbuilding, disclosed that the yard has signed contracts for two 114,000 dwt LR2 product tankers. The vessels were ordered by a single-purpose company under Monte Nero Holdings, according to the filing.

The contract value was placed in a wide range of $100m to $200m, with the two ships scheduled for successive delivery in the first half of 2027.

The deal adds to Hengli’s expanding tanker orderbook as the Dalian-based yard continues to attract business from international owners alongside domestic accounts.

For Athens-based Monte Nero, the move builds on recent fleet expansion efforts. The owner was particularly active last year in the MR2 segment, booking a series of product tanker newbuildings at COSCO Shipping Heavy Industries (Guangdong) and Huanghai Shipbuilding, also in China. With the latest LR2 order, Monte Nero is now stepping up into larger product tonnage, underlining continued confidence in the clean tanker market and further cementing Chinese yards’ grip on newbuilding demand from Greek owners.