Greek owner Centrofin has been linked to an order for six LR2 tankers at China’s Titan Wind Energy, handing the merchant shipbuilding newcomer a contract worth as much as $480m, according to Splash247.
Shenzhen-listed Titan Wind said an offshore engineering subsidiary had signed for six firm 114,000 dwt product and crude tankers with a unit of an unnamed international owner, Splash247 reported. The vessels are set to deliver in batches during 2028 and 2029.
Six-ship LR2 contract
The package is valued at between $420m and $480m, implying a price of $70m to $80m per ship, according to Splash247. Titan Wind withheld the buyer’s identity on commercial grounds, but shipbuilding sources have placed the Dimitris Procopiou-led Centrofin behind the order. Neither Centrofin nor Titan Wind has publicly confirmed the attribution.
Splash247 reported the package is valued at between $420m and $480m, implying a price of $70m to $80m per ship.
Titan Wind’s rapid tanker push
The deal is Titan Wind’s second conventional tanker contract in less than two weeks. The company disclosed a separate order in July for two firm and two optional 113,800 dwt crude tankers, also scheduled for delivery across 2028 and 2029, Splash247 reported. The four-ship package was valued at RMB1.874bn ($261m), split evenly between the firm pair and the options.
The two contracts give Titan Wind a merchant shipbuilding backlog of eight firm tankers and two options, following the company’s move from wind energy structures into FSO and FPSO hull work, according to Splash247.
| Contract | Vessel type | Size (dwt) | Firm / optional | Value | Delivery |
|---|---|---|---|---|---|
| Latest (August) | LR2 product & crude tankers | 114,000 | 6 firm | $420m–$480m | 2028–2029 batches |
| July order | Crude tankers | 113,800 | 2 firm + 2 optional | RMB1.874bn ($261m) | 2028–2029 |
Centrofin’s growing tanker orderbook
The latest deal would lift Centrofin’s known tanker orderbook to at least 10 ships, Splash247 reported. The Athens-based owner already has four 156,850 dwt suezmaxes under construction at Samsung Heavy Industries for delivery in 2028, booked at around $83m each.
Centrofin’s operating tanker fleet covers the suezmax, aframax/LR2, LR1 and MR segments. The company recently added the 2026-built, 50,600 dwt MR2 Psara through a resale deal, according to Splash247.
Implications for tanker supply
For freight forwarders and tanker operators, these newbuild orders point to a growing future fleet in the LR2 and suezmax segments, with deliveries concentrated in 2028 and 2029. Splash247 highlighted that Titan Wind’s two contracts alone create a backlog of eight firm tankers plus two options, while Centrofin’s known orderbook reaches at least ten tankers across multiple ship types. Shippers and charterers tracking forward tonnage supply will be watching these delivery schedules closely, as the new units enter a market where fleet renewal and expansion continue to reshape tanker availability.
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