Greeks pounce on MR newbuild slots

Greek interest in newbuild MR tanker tonnage continues strong, with fresh orders tipped to be coming from the Vafias family and Monte Nero Maritime.

Shipbroking sources report Harry Vafias-backed outfit Brave Maritime securing two newbuilds in a $108m deal recently revealed at Hyundai Mipo Dockyard in South Korea.

The Vafias Group’s return to the yard in Ulsan after LPG carrier orders in 2021 has yet to be confirmed. Vafias has mostly focused on the mid-sized gas sector and secondhand bulker deals in recent years.

Meanwhile, another Athens-based owner, Monte Nero Maritime, has been linked to an order for four MR2 units at Chinese yard Shandong Huanghai. The price tag of 50,000 dwt newbuilds has not been divulged. Deliveries are starting in 2026 through to 2027.

Greece’s Evalend Shipping and Laskaridis Maritime also emerged behind MR tanker orders in South Korea and China this month. Brokers told Splash Evalend had booked 37,000 dwt units at Hyundai Mipo worth more than $190m, while Laskaridis tapped Penglai Zhongbai Jinglu Ship Industry for five MR vessels. 

The move on MR newbuilds comes amid an increasing age profile in the segment, where a substantial number of tankers are set to cross the 20-year mark. UK shipbroker Gibson noted in its recent report that MRs between 15 and 19 years old account for 30% of the existing fleet, while another 13% are 20 years of age or older. At the end of June, the MR orderbook stood at nearly 230 vessels, or 13% of the existing fleet, according to Gibson.