US banking giant JP Morgan is being linked to a fresh push into crude shipping， with multiple brokers pointing to a VLCC newbuilding order worth around $500m at China’s Dalian Shipbuilding Industry Co (DSIC).

Market sources say a JP Morgan-backed shipowning platform has signed for two 307，000 dwt newbuilds， with options for two more， at about $123m per vessel. Deliveries are expected in 2029.

If confirmed， the deal would mark the group’s first direct move into the VLCC segment， adding to a growing shipping portfolio that already spans LNG carriers， VLGCs and suezmax tankers.

JP Morgan has been steadily building exposure to shipping assets in recent years， both through financing and direct investments. The latest VLCC play would be its fourth newbuilding move this year alone.

Earlier in 2026， JP Morgan-linked entities are reported to have ordered two VLGCs， three suezmax tankers and two LNG carriers at South Korea’s Samsung Heavy Industries， with deliveries stretching into 2029. Taken together， its newbuilding commitments this year are estimated to have passed $1.2bn.

The move also comes as DSIC continues to rack up VLCC orders at pace. The yard has secured a string of contracts in recent weeks from both Chinese and international owners， including China Merchants Energy Shipping， Mercuria and Advantage Tankers， with deliveries lined up between 2028 and 2030.

For JP Morgan， entering the VLCC space is seen by brokers as a bet on long-haul crude demand holding up. The timing also aligns with a broader surge in tanker ordering. Industry data shows VLCC contracting has already smashed a two-decade annual record within the first half of the year， with around 125 VLCCs ordered in Q4 2025 and Q1 2026.