Maran Tankers adds 4 more LNG-powered tankers as Greek owners drive newbuilding trend

Greek shipping major Maran Tankers has commissioned the construction of four LNG-fueled tankers, each boasting an impressive capacity of 155,500 tons at China’s New Times Shipbuilding.

The order comes in the form of exercised options for additional vessels held from a contract Maran Tankers signed back in April with the yard, Intermodal Shipbrokers said. The ships will cost $87 million per vessel with the delivery set for 2027.

The order brings Maran Tankers’ total ordering tally to eight LNG dual-fuelled 155,500 dwt vessels at New Times Shipbuilding, all set for delivery in 2027.

The order comes amidst a backdrop of rising interest in Greek entities’ investments in the maritime sector.

Namely, Greek shipping company Evalend has partnered with Yangzijiang Shipbuilding for the construction of four tankers with a carrying capacity of 75,000 deadweight tons each. The company is paying $50 million per vessel, all slated for delivery in 2026.

In addition, Kyklades Maritime, a prominent player in the Greek maritime sector, has ordered two Suezmax vessels from Japan Marine United (JMU). Each vessel comes with a price tag of $82 million with delivery set for 2026. According to Intermodal, the quartet will be scrubber fitted to meet the IMO 2020 sulphur cap requirements.

The latest ordering wave shows a predominant focus on the Suezmax newbuildings, with a cautious sentiment that prevails in the realm of large tanker contracting. This apprehension, anchored in several critical factors, resonates with the complex interplay of economics, environmental considerations, and technological advancements in the maritime sphere.

The limited ordering has so far seen around ten ultra-large tankers ordered this year with deliveries predominantly set for 2026.

That being said, last week Belgian tanker shipping heavyweight Euronav announced a deal for the construction of an ammonia-ready very large crude carrier (VLCC). The VLCC is expected for delivery in the third quarter of 2026. Under the contract with Beihain Shipbuilding Euronav has an option for an additional vessel.