Minsheng Financial Leasing has lined up four VLCC newbuildings in China in a deal worth around $500m， extending a rapid run of charter-backed shipping investments by the Chinese lessor.

Shipbuilding sources have linked Minsheng to four 319，000 dwt vessels at Jiangsu New Hantong Ship Heavy Industry， priced at around $125m each.

The quartet is being tied by market sources to Clearlake Shipping， the chartering arm of commodities trader Gunvor. Details of the employment arrangements and delivery dates have yet to emerge， and neither Minsheng nor the yard has publicly announced the contracts.

The move comes days after Minsheng expanded its Shell-backed MR tanker programme at Guangzhou Shipyard International from six to 11 vessels.

All 11 of the 49，900 dwt ships will be owned and financed by Minsheng and chartered to Shell Tankers. The Chinese lessor is also the shipowner behind four 175，000 cu m LNG carrier newbuildings at Jiangnan Shipyard for Shell Singapore， scheduled for delivery in 2028 and 2029.

New Hantong has rapidly built one of the industry’s largest VLCC backlogs after breaking into the segment with Trafigura in 2024.

Eyal Ofer’s Zodiac Maritime has since placed a sizeable VLCC programme at the yard， while Yasa Holding recently signed up for four 319，000 dwt units at around $125m each. Yangzijiang Maritime has also built up a 12-ship VLCC series at New Hantong.