Greece-based Monte Nero Management has signed a shipbuilding contract for two firm Very Large Crude Carriers (VLCCs) with Hengli Shipbuilding, marking the company's entry into the rapidly growing VLCC market. The contract, valued between $200 million and $300 million, was confirmed following an announcement last week by Hengli Shipbuilding’s parent company, ST Panorama. Although the delivery schedule has not been disclosed, industry sources anticipate delivery in the second half of 2028.