In a major development for the Asian shipbuilding sector, Hengli Heavy Industry (formerly STX Dalian) has landed a significant order to construct 11 Very Large Crude Carriers (VLCCs) for Greece’s Capital Group, led by Evangelos Marinakis. This marks a remarkable comeback for the Chinese private shipyard, which has traditionally focused on standard vessel segments. The deal not only demonstrates Hengli's capacity to handle large-scale, technologically advanced projects but also signals the confidence major shipowners still place in oil transport despite the ongoing energy transition. The order is expected to boost Hengli's position in the global shipbuilding market and intensifies competition with both Chinese state-owned and Korean shipyards.