Two years after exiting the Very Large Crude Carrier (VLCC) market in 2022, U.S.-based commodities trader Hartree Partners is now restructuring its tanker fleet and has ordered up to six MR product tankers from a Chinese shipyard, marking the company’s first major shipping deal since 2022.
Hartree Partners has placed an order for six MR product tankers at Penglai Zhongbai Jinglu Ship Industry Co., Ltd. (Jinglu Shipyard), all of which will be built in accordance with the International Maritime Organization (IMO) Type 2 chemical handling standards, and the new shipbuildings will be designed by Swedish ship designer FKAB Marine Design, according to Trade Winds.
Hartree Partners has at least ordered four 49,600 dwt chemical/product tankers at Jinglu Shipyard, which are expected to be delivered between October 2025 and January 2026, according to data from S&P Global and Equasis. Another two new tankers of the same specification are scheduled for delivery in January and October 2026, respectively.
VesselsValue data shows that due to the delivery date the more advanced the higher the cost, the first four new shipbuildings of the single unit cost between $42 million (about CNY 303 million) and $43.5 million (about CNY 314 million), the total value of the order in the 168 million U.S. dollars (about CNY 1,214 million) to 174 million U.S. dollars (about CNY 1.257 billion).
Founded in 1997, Hartree Partners is understood to be a global energy and commodities trading company headquartered in New York, U.S.A. In April 2022, Hartree Partners sold the last two vessels of its VLCC fleet to Belgian tanker giant Euronav, marking the company’s formal exit from the VLCC market.However, Hartree Partners has maintained a small amount of activity in the MR product tanker sector.The shipbuilding order with Jinglu Shipyard is the first major shipping deal since the company emptied its VLCC fleet.
The official website shows that Jinglu Shipyard is a large modern shipbuilding enterprise with ship repair and construction as its main business, belonging to Qingdao Military-Civil Integration Development Group Co., LTD. ( hereinafter called the“Rongfa Group”) and jointly held by Shandong Huiyang Group. JLS covers a total area of 1.8 million square meters and has an annual production capacity of one million deadweight.
JLS has one 300000t dry dock (369m*102m), one floating dock with lifting capacity 35000t(296m*52m), one floating dock with lifting capacity 5000t(108.9m*26m). The total length of the outfitting quay is about 3000 m. The special equipment and facilities for shipbuilding, including 1000 t and 500 t of gantry cranes, are complete. JLS has more than 4500 employees, with a complete and professional talent system, which covers all aspects of shipbuilding. The use of international leading design software and precision control software fundamentally ensures product quality.
The new shipbuilding business of JLS includes foreign merchant ship, such as 82000 DWT bulk carrier; 76000 DWT bulk carrier; 66000 DWT bulk carrier; 64000 DWT bulk carrier; 7000 DWT chemical tanker; 21000 DWT cement carrier; 22200 DWT cement carrier; 7999 DWT bunkering tanker; 50000 DWT chemical tanker; 31000 DWT chemical tanker; 3000TEU container vessel; 1400TEU container vessel; 1800TEU container vessel. Domestic merchant ship, such as 76000 DWT bulk carrier; 30000 DWT bulk carrier; 1400TEU container vessel; 11800 DWT product oil tanker; 9700 DWT bulk carrier; 9800 DWT bulk carrier; 10000 DWT bulk carrier, etc. Upmarket deep-sea fishing ships, such as 77m saury/squid fishing vessel; 900 tons tuna purse seine vessel; 1200 gross tons of American tuna purse seine vessel; 1400 gross tons of American tuna purse seine vessel; 1800 gross tons of American tuna purse seine vessel; 59.6m Deep Freezing Long Line Tuna Clipper Vessel; 69m Squid Fishing Vessel; Fish Farming Cage, etc. Official ships, such as 1000T Coast Guard; 300T Fishery Administration Ship, etc. And also RO-RO passenger Vessel; Ro-pax Vessel; Scientific Research Ship, etc.