Lila Global expands tanker fleet

Dubai-based Lila Global is continuing its fleet diversification strategy with a string of acquisitions in the tanker segment, a notable pivot from its traditionally dry bulk-heavy profile. The shipowning affiliate of ship recycling powerhouse GMS has now added its third stainless steel chemical tanker in the niche J19 size bracket, reflecting growing appetite for smaller clean tankers.

Lila Global has acquired the 2006-built, 19,000 dwt stainless steel tanker formerly known as Strinda from Norway’s Ludwig Mowinckels Rederi for $15.9m. The vessel, now renamed Lila Evia, joins two earlier sister ships in the company’s fleet, strengthening its footprint in the specialised chemical and clean product tanker market.

This purchase follows a pattern of opportunistic and profitable fleet reshuffling. In October, Lila Global sold the Lila Frontier—a 2004-built sister ship—for approximately $16m, reaping an estimated $4m profit from that transaction.

Just last week, market sources linked Lila Global to the acquisition of two 2007-built Hyundai Mipo MR tankers in a $28m en bloc deal, further expanding its exposure to the mid-size product tanker sector.

Lila Global’s recent moves signal a tactical rebalancing of its fleet. Known primarily for its dry bulk focus, the company added two capesize bulkers earlier this year—the Maran Sailor and Maran Odyssey, both built in 2006 and acquired for $19m apiece. Until recently, its fleet was dominated by bulkers, with 29 such vessels on its books.

However, with tanker charter markets showing resilience and asset values firming up, especially for modern or specialised tonnage, Lila Global appears to be diversifying its exposure to capitalise on more liquid opportunities in the wet sector.

Fleet valuation service VesselsValue now pegs Lila Global’s fleet at 36 ships valued at approximately $540m, highlighting the company’s rapid portfolio growth and strategic repositioning.

Lila Global’s growing prominence in the asset play arena complements the legacy of its sister firm GMS, the world’s largest cash buyer of end-of-life ships. While GMS focuses on ship recycling and demolition markets, Lila Global appears intent on carving out a reputation as a nimble and adaptive player in active shipownership, particularly in niche and opportunistic asset classes.