US banking giant JP Morgan has placed an order for two additional very large crude carriers (VLCCs) at South Korea's Hanwha Ocean, expanding its reported VLCC newbuilding orderbook to 12 vessels. The latest contracts bring Hanwha Ocean into the fold alongside other shipyards in South Korea and China where JP Morgan has previously placed VLCC orders, reflecting a broader push by the bank into tanker ownership. VLCCs typically carry around 2 million barrels of crude oil and are among the largest vessel classes used in the global oil trade, generally built to a capacity near 300,000 DWT. The move underscores continued financial-sector interest in shipping assets, with investment banks and funds increasingly participating in vessel ownership and leasing arrangements alongside traditional shipowners. Large orderbooks of this kind can be chartered out to oil majors, trading houses or state-linked shipping firms, generating steady income streams tied to global crude transport demand. Neither JP Morgan nor Hanwha Ocean has disclosed the value of the new order or delivery schedules for the two additional vessels. The expansion adds to a wave of VLCC ordering activity across South Korean and Chinese yards in recent periods, as owners and investors seek to renew aging tanker fleets and position for anticipated demand in seaborne crude trade. According to TrustedDocks orderbook data, the order was placed on 14 Jul 2026 and reported the following day, with the two vessels priced at around USD 131 million each and built to a capacity of about 320,000 DWT. The ships, which will be conventional-fuelled and scrubber-fitted, are both scheduled for delivery between January and March 2030.