Greek owners sign up for more suezmaxes

Greek appetite for newbuild tanker tonnage remains high, with more orders coming from the suezmax segment.

George Economou’s Cardiff Marine and Spiros Polemis-controlled Polembros Shipping have both been reported to have contracted two and one 157,000 dwt units in China, respectively.

According to brokers in Greece, Cardiff Marine has commissioned Jiangsu New Hantong for scrubber-fitted suezmaxes at $83m each and delivery in 2026.

Meanwhile, Polembros has booked an LNG-capable scrubber-fitted newbuild at New Times Shipbuilding for early delivery in 2025, following a similar order for two vessels at the yard last year. No price has been revealed.

The orders follow the most recently reported deal George Procopiou’s Dynacom also struck at New Times for a pair of suezmaxes, costing $83m each and delivering in 2027.

Other Greek owners have recently signed up for tanker newbuilds albeit in smaller sizes. Latsco ordered four LR2s at Hyundai Vietnam for $70m each and delivery in 2027, while Chemnav contracted a 50,000 dwt methanol and LNG-ready tanker at K Shipbuilding in South Korea.