Greek Aegean Shipping Increases Hengli Tanker Order to 5 Vessels

en.Wedoany.com Reported - On September 15, Greek shipowner Aegean Shipping Management's newbuilding tanker order at China's Hengli Heavy Industries increased to 5 vessels, including 3 LR2 tankers and 2 Very Large Crude Carriers (VLCCs). According to the latest disclosed figures, these vessels under construction will further expand the scale of Aegean Shipping's tanker fleet, with its total capacity including newbuildings on order reaching approximately 2.5 million deadweight tons.

Each of the two VLCCs can transport approximately 2 million barrels of crude oil; the 3 LR2 tankers can be used for both crude oil and refined product transportation. Aegean Shipping is currently concentrating its newbuilding investment in the tanker segment, advancing fleet renewal through both newbuildings and the sale of existing vessels. The company's current mixed fleet of approximately 21 vessels, including tankers and bulk carriers, maintains an average age of under 3 years.

Aegean Shipping launched a new round of large tanker orders at Hengli Heavy Industries in March this year. During Posidonia International Shipping Exhibition, the company publicly announced its entry into the VLCC market and signed LR2/Aframax and VLCC newbuilding agreements with Hengli Heavy Industries. The latest order status shows that its tankers under construction at Hengli have further expanded to 5 vessels.

Meanwhile, Aegean Shipping is also adjusting its existing fleet. The company recently agreed to sell the 2022-built LR2 tanker Green Adventure for approximately $83 million; in March this year, it also sold the 2018-built 112,600 deadweight ton Aframax tanker Green Attitude for approximately $71 million.

At the end of July, Aegean Shipping took delivery of the LR2 tanker Green Liberty from Yangzhou COSCO Shipping Heavy Industry. This vessel is the first of 4 new tankers the company plans to receive in the coming months. As the 5 tanker orders at Hengli Heavy Industries continue to advance, the company's newbuilding and existing fleet renewal will be implemented simultaneously.