en.Wedoany.com Reported - U.S.-listed tanker owner International Seaways has returned to the newbuilding market, signing an order for 2+2 LR1 product tankers at South Korea's K Shipbuilding (formerly STX Offshore & Shipbuilding).

According to TradeWinds, the order includes 2+2 LR1 product tankers of 74,000 deadweight tons, with a unit price of approximately $62 million. If the optional orders are confirmed, the total value will reach $248 million (approximately RMB 1.677 billion). The new vessels will feature LNG-ready design and are scheduled for delivery in 2028.

For reference, Clarksons data shows that the current newbuilding price for a 73,000-75,000 dwt LR1 product tanker is approximately $61.5 million (about RMB 416 million), slightly higher than the $59 million recorded in the same period last year.

This marks International Seaways' first newbuilding order since 2024. The company placed its previous order at K Shipbuilding in April 2024, also for two LR1 product tankers, at a unit price of about $58 million. The latest price represents an increase of $4 million (approximately RMB 27.0502 million) compared to that order.

Including the latest order, International Seaways has now placed a total of eight LR1 product tankers at K Shipbuilding. The first four have been delivered and are in operation, while the fifth and sixth are scheduled for delivery within this year.

These vessels adopt K Shipbuilding's "K Smartship Solution." This solution supports safe and efficient vessel operation by reducing fuel consumption and CO2 emissions through continuous hull development and improvements in equipment fuel efficiency. The vessels also feature LNG-ready design, allowing future conversion to LNG as an eco-friendly fuel, meeting the International Maritime Organization (IMO) Energy Efficiency Design Index (EEDI) Phase III requirements.

International Seaways is one of the world's largest tanker companies, specializing in crude oil and product transportation. According to its official website, the company currently owns and operates 66 vessels, including 28 MR tankers, 13 Suezmax tankers, 10 LR1 tankers, 10 VLCCs, and 5 Aframax tankers.

In the first quarter of this year, International Seaways reported a record net profit of $286.1 million, its strongest quarterly performance since the fourth quarter of 2022. Driven by increased spot earnings across its entire fleet, the company's revenue rose to $325.5 million from $183.4 million in the same period in 2025.

Excluding the latest order, Clarksons data shows that K Shipbuilding currently holds an orderbook of 37 vessels totaling 2.084 million deadweight tons, including 25 MR product tankers, 6 LR1 product tankers, 3 Aframax crude oil tankers, and 3 chemical tankers, with delivery schedules extending to 2028.

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