Wedoany.com Report on Feb 9th, Greek shipowner Venergy Maritime has recently signed orders for two new LR2 product tankers at China's New Times Shipbuilding, with options for two additional vessels. This move further solidifies the company's business layout in the product tanker sector, marking a significant step into the larger-tonnage tanker market.
This LR2 product tanker order is the second similar transaction Venergy has concluded in China since last year. Combined with earlier orders, the company's position in the LR2 market has been significantly enhanced, forming a complementary development pattern with its existing MR product tanker business.
Founded in 2021 and headquartered in Piraeus, Greece, Venergy initially focused on MR product tanker operations. The company currently owns three modern MR vessels and is progressing with a plan for six new MR2 vessels at South Korea's K Shipbuilding, with deliveries expected to continue until 2027. Additionally, two more MR2 vessels are in the option stage, bringing the potential total orders at the shipyard to eight.
The business scope of the Vasileiadis Group, to which Venergy belongs, is gradually expanding. Last year, the group's sister company, OceanV, ordered four 1,900 TEU feeder container ships at China's CSSC Huangpu Wenchong Shipbuilding, marking the group's first foray into the container ship sector.
As part of the V Group, Venergy develops synergistically with other business segments within the group, such as port facilities, waste management, and renewable energy. This diversified background supports the company's prudent fleet expansion strategy.
Vyron Vasileiadis, Chairman of the V Group, stated: "Our strategy focuses on long-term development, emphasizing asset quality, operational efficiency, and solid partnerships."
With the progressive implementation of orders for MR2 and LR2 product tankers and feeder container ships, Venergy's newbuilding program continues to advance. The potential total number of vessels has reached 18, demonstrating the company's ongoing expansion in the shipping market.
