Greek tanker owner Arcadia Shipmanagement has expanded its newbuild programme with three aframax/LR2 newbuildings at China's Hengli Heavy Industries, taking its tanker orderbook to nine ships, according to Splash247.
Newbuild order details
Splash247 reported that the Panagiotis and George Angelopoulos-led company has signed for three 114,000 dwt vessels scheduled for delivery in 2028. Arcadia has listed the ships on its website, but pricing and technical specifications have not been disclosed. The latest deal gives Arcadia seven aframax/LR2s and two suezmaxes on order across Chinese and South Korean yards.
Orderbook at a glance
Four aframax/LR2s are already due from Dalian Shipbuilding Industry Co in 2027, Splash247 reported. Arcadia originally contracted two firm ships and two options at the CSSC yard in late 2023, with brokers at the time placing the scrubber-fitted vessels at about $63m each.
| Ship type | DWT | Number | Shipyard | Delivery | Price per vessel |
|---|---|---|---|---|---|
| Aframax/LR2 | 114,000 | 3 | Hengli Heavy Industries (China) | 2028 | Not disclosed |
| Aframax/LR2 | Not stated | 4 | Dalian Shipbuilding Industry Co (China) | 2027 | Not stated |
| Suezmax | 157,000 | 2 | HD Hyundai Samho (South Korea) | March & May 2029 | ~$89m each |
Suezmax follow-up and deliveries
The company followed up earlier this year with two 157,000 dwt suezmaxes at HD Hyundai Samho, Splash247 reported. The pair, priced at around $89m each, is scheduled for delivery in March and May 2029. Arcadia recently took delivery of the 157,000 dwt Aegean Miracle from the same Korean yard, completing an earlier three-ship suezmax programme that also included the Aegean Fighter and Aegean Winner.
Current fleet and sister operations
The Athens-based outfit currently manages nine tankers comprising seven suezmaxes and two aframaxes, according to Splash247. Its sister dry bulk operation Aegean Bulk is also working with Hengli on four kamsarmax newbuildings ordered late last year.
Arcadia's tanker orderbook now spans nine newbuildings: seven aframax/LR2s and two suezmaxes across Chinese and South Korean yards.
Implications for tanker market watchers
For freight forwarders and charterers monitoring tanker supply, the orderbook set out by Splash247 adds a defined volume of future capacity: three 114,000 dwt LR2s from 2028, four aframax/LR2s from 2027, and two 157,000 dwt suezmaxes from 2029. These deliveries will roughly double Arcadia's currently managed tanker fleet of nine ships when all are in service. The concurrent newbuild programme at Aegean Bulk — four kamsarmax orders at Hengli placed late last year — also signals fleet renewal across the Angelopoulos-backed shipping operations.
Watch list
- 2027: Delivery of four aframax/LR2s from Dalian Shipbuilding Industry Co.
- 2028: Delivery of three 114,000 dwt LR2s from Hengli Heavy Industries.
- March and May 2029: Delivery of two 157,000 dwt suezmaxes from HD Hyundai Samho.
- Undisclosed: Pricing and technical specifications for the three Hengli LR2s, already listed on Arcadia's website without financial details.
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