en.Wedoany.com Reported - Geneva-based Advantage Tankers is accelerating its expansion of large tanker capacity, with the company led by Tugrul Tokgoz placing an order for two 157,000 dwt Suezmax tankers at Samsung Heavy Industries (SHI).

Samsung Heavy Industries recently disclosed that it has signed a construction contract for two Suezmax tankers with an overseas shipowner, valued at KRW 273.4 billion (approximately USD 180 million), but did not disclose details such as the identity of the contracting party or specific delivery dates.

According to the Advantage Tankers website, the two 157,000 dwt Suezmax tankers newly ordered at Samsung Heavy Industries will be named "Advantage Spirit" and "Advantage Synergy," with delivery scheduled for the first and second quarters of 2029, respectively.

Advantage Tankers CEO Tugrul Tokgoz stated that the company ordered these two Suezmax tankers at Samsung Heavy Industries based on long-term charters. This is Advantage Tankers' first order at Samsung Heavy Industries, and the company hopes to establish a mutually beneficial long-term cooperative relationship.

In addition to this order, Advantage Tankers continues to ramp up investments in VLCCs and Suezmax tankers. The company has ordered four 320,000 dwt VLCCs at Hanwha Ocean, with a reported unit price of approximately USD 127 million. The first vessel is expected to be delivered in the second quarter of 2027, with the remaining three delivered in the third quarter of 2027. At Jiangsu New Hantong Ship Heavy Industry, one 319,000 dwt VLCC, "Advantage Visual," is under construction and expected to be delivered in the fourth quarter of 2026. At Dalian Shipbuilding, two additional 307,000 dwt VLCCs, "Advantage Venture" and "Advantage Voyager," are under construction, with deliveries expected in the second quarter of 2028 and the third quarter of 2029, respectively.

Beyond VLCCs, Advantage Tankers has also ordered four 157,000 dwt Suezmax tankers at Korea's DH Shipbuilding, with a unit price of approximately USD 88.5 million. The first two are expected to be delivered in the second and third quarters of 2027, with the remaining two delivered in the first and second quarters of 2029.

Including the latest order, Advantage Tankers' total order backlog has increased to 13 vessels, comprising seven VLCCs and six Suezmax tankers.

Founded in 2014, this tanker operator, with Gulsun Nazli Karamehmet Williams as its major shareholder, currently owns and operates 27 tankers, including five VLCCs, 11 Suezmax tankers, four Aframax tankers, and seven LR1 product tankers.

Additionally, Samsung Heavy Industries announced a strategic cooperation agreement with Singapore's Kuok Group, seeking future business opportunities in a wide range of areas including shipbuilding and offshore engineering, maritime logistics, and digital infrastructure.

The Kuok Group operates across Asia, covering real estate, hospitality, shipping, and logistics. Its Kuok Maritime Group consolidates shipbuilding and offshore businesses, including PaxOcean Zhoushan.

Under the agreement, Samsung Heavy Industries will subcontract the latest tanker order to PaxOcean Zhoushan, marking a further strengthening of cooperation between Samsung Heavy Industries and the Kuok Maritime Group.

Samsung Heavy Industries stated that under this win-win model, the company is responsible for ship design and procurement of major equipment, while construction takes place in Southeast Asia and other regions, enabling a flexible production system. Based on this collaboration, the two companies plan to establish a long-term partnership. Samsung Heavy Industries CEO Sung-an Choi said that starting with hull construction cooperation with PaxOcean, the company seeks to build a long-term relationship with the Kuok Group across various business sectors.

Including the latest two Suezmax tanker orders, Samsung Heavy Industries has secured a total of 32 orders so far this year, with a combined value of USD 9.8 billion, achieving 70.5% of its annual order target of USD 13.9 billion. These include 13 LNG carriers, two VLECs, four VLGCs, two container ships, eight crude oil tankers, one LNG-FSRU, and two FLNGs. Among them, the merchant ship business has secured 30 orders totaling USD 5.38 billion, achieving 94.4% of its annual target of USD 5.7 billion; the offshore business has secured two orders worth USD 4.4 billion, achieving 53.7% of its annual target of USD 8.2 billion.