(Yicai) Feb. 10 -- Hengli Shipbuilding, a Chinese high-end shipbuilder and marine engineering services provider, has secured an order for 10 large crude oil tankers, which could be worth between USD700 million and USD1 billion.

Athens-based Dynacom Tankers Management has ordered nine large oil tankers with a deadweight tonnage of 158,000 tons, Hengli's parent company Songfa Ceramics announced late yesterday. The other vessel, also of the same size, is for a well-known European shipowner with good credit, who requested not to be named, it added, without disclosing a delivery schedule.

Shares of Songfa Ceramics [SHA: 603268] closed 5 percent higher at CNY89.67 (USD12.95) apiece today. The broader Shanghai stock market rose 0.1 percent.

The latest order was Hengli's sixth since the start of this year, including two for a total of five vessels expected to be worth between USD430 million and USD600 million that it secured on Feb. 3 and 7. The ships include Cape-size bulk carriers, very large crude carriers, and 158,000-ton crude oil tankers, with a well-known shipowner from Singapore and Minerva Marine, a leading private Greek shipowner, among the clients.

Hengli is one of China's top five shipbuilders. It became a subsidiary of private petrochemical giant Hengli Group in 2022, but it was transferred to Songfa Ceramics last May as part of a major asset restructuring that saw Songfa shift its main business from ceramic manufacturing to the research, development, production, and sales of ships and high-end equipment.

Editor: Martin Kadiev