Venergy Maritime Shifts up a Gear With China LR2 Move

Wedoany.com Report-Nov. 28, Venergy Maritime, a Greek shipping company established in 2021, is preparing to enter the aframax/LR2 tanker segment for the first time, according to shipbuilding sources.

The company, led by Vyron Vasileiadis, has reached an advanced stage of negotiations with New Times Shipbuilding in China for two 115,000 dwt scrubber-equipped tankers scheduled for delivery in 2029. A letter of intent has been exchanged, with options declared for two additional vessels. Market estimates value each ship at approximately $69 million.

Venergy has not yet issued an official statement regarding the potential contract.

Since its founding, Venergy has concentrated on the MR product tanker sector. It currently operates three modern MR vessels and has four more under construction at K Shipbuilding in South Korea, with deliveries extending through 2027.

Confirmation of the New Times order would represent Venergy's expansion into larger crude and clean product carriers and align it with several established Greek owners actively contracting similar tonnage in Chinese and South Korean yards, including Cape Shipping, Stealth Maritime, and JHI Steamship.

The move reflects continued confidence among Greek owners in the long-term prospects for aframax/LR2 tankers, supported by firm freight rates and expectations of sustained demand for mid-size tonnage on both crude and refined product trades.