Aegean Shipping orders another eco-friendly Aframax

Greek shipping company Aegean Shipping Management has exercised an option to build its third Aframax tanker in China.

The move follows an agreement signed earlier this year with Chinese shipbuilder COSCO Shipping Heavy Industry (Yangzhou) Co. Ltd. for the construction of two plus one 114,000 dwt tankers.

What is more, the duo signed a letter of intent (LOI) for a fourth vessel.

The four units will be delivered sequentially between June 2022 and March 2023, Aegean said in a statement.

The latest order brings the number of newbuilds Aegean ordered from COSCO Group consecutively in the last four years to twelve.

According to Aegean, its fleet currently comprises vessels built only by the company, without resales or secondhand ships.

“All Aegean Shipping vessels and especially the new acquisitions are certified with the highest eco-friendly class notations enhancing our commitment to the protection of the environment and strengthening the “Green Fleet” perspective governing our operations,” the company said.

Once the newbuilding project is completed in March 2023, the average age of the Aegean fleet will be 2.9 years.