China’s Hengli Group announced a significant investment of yuan (CNY) 9.2 billion ($1.3 billion) into its shipbuilding business in Dalian, Liaoning province.
The investment, made by its subsidiary Hengli Heavy Industry, will focus on building a shipbuilding capacity of 1.8 million deadweight tonnes (DWT) per year and a steel processing capacity of 1.8 million tonnes per year at Changxin Island in Dalian City.
The agreement, signed on July 7, involved partnerships with the local governments of Dalian City and Changxin Island. This expansion aims to enhance the Group’s capabilities in constructing ultra-large carriers for crude oil, liquefied petroleum gas (LPG), container vessels, and offshore facilities.
Additionally, Hengli Heavy Industry recently secured a deal to build six 325,000 DWT ore tankers for Singapore’s Winning International Group, following a previous order in September 2023 for two WinningMax carriers.
Hengli Group’s venture into the shipyard business began in 2022 through the acquisition of STX (Dalian), the Chinese unit of South Korea’s STX Group. This strategic move aligns with the Group’s position as the parent company of Hengli Petrochemical, showcasing its commitment to expanding its presence in the maritime industry.
