Italian tanker owner Navigazione Montanari is adding two LR2 product tankers to its fleet renewal programme through Malta-based affiliate Pemont, with the order placed at China's Hengli Heavy Industry, according to Splash247.
The order opens a new shipbuilding relationship between Pemont and the fast-growing Dalian yard, Splash247 reported. It builds on Navigazione Montanari's return to the newbuilding market in 2024, when the Fano-based owner contracted 41,000 dwt MR1s at Yangzijiang Shipbuilding for delivery in 2027. Those vessels were the company's first reported newbuildings since 2006, according to the report.
Order details and fleet impact
The two LR2 product tankers are booked through Pemont, a Malta-based affiliate, and will be built at Hengli Heavy Industry's Dalian yard. Price, delivery dates and propulsion details have not been disclosed, Splash247 noted. Hengli's standard LR2 design is around 114,000 dwt, and if the pair is built to that design, the vessels would become the largest ships in Pemont's fleet.
Pemont's existing fleet is dominated by older tonnage. The company lists nine tankers delivered between 2007 and 2009, while external fleet databases count 10 ships totalling around 635,000 dwt, according to Splash247. In addition to the new orders, Montanari has been consolidating ownership of its existing fleet: in 2023, the company exercised purchase options on eight product tankers built in 2007 and 2008 that had previously been sold and chartered back, and it added younger MR units last year.
| Fleet metric | Figure (per Splash247) |
|---|---|
| Pemont-listed vessels | 9 tankers, delivered 2007–2009 |
| External database count | 10 ships, ~635,000 dwt total |
| New LR2 order | 2 units at Hengli Heavy Industry, standard design ~114,000 dwt each |
| 2024 MR1 order | 41,000 dwt units at Yangzijiang Shipbuilding, delivery 2027 |
According to Splash247, the Hengli pair will significantly increase the size of the group's newbuilding programme and, if built to the yard's standard design, become the largest ships in the Pemont fleet.
What the order means for charterers and operators
For freight forwarders, 3PL operators and tanker charterers, the order signals a fleet renewal push by a mid-sized owner, but the near-term impact on product tanker spot or contract rates cannot be estimated from the source because delivery dates were not disclosed. The orderbook addition does confirm that Hengli has been building up its LR2 backlog this year, with Greek owners Arcadia Shipmanagement and Thenamaris among recent names to have booked the tanker type at the yard, Splash247 reported.
The Dalian yard's growing LR2 orderbook means additional LR2 tonnage is being added to the global orderbook, although the source does not specify which trade lanes the Pemont vessels will serve or when they will be delivered. For logistics managers monitoring tanker supply, the key shift is structural: an owner that has relied on tankers built between 2007 and 2009 is now adding newbuild capacity through a new yard relationship and a previously disclosed MR1 contract.
Watch list
- Delivery timing for the two Hengli LR2s — undisclosed in the Splash247 report; any schedule releases would refine capacity projections for charterers.
- Montanari's 2024 MR1 order at Yangzijiang Shipbuilding — scheduled for delivery in 2027, adding modern 41,000 dwt product tankers to the group's fleet.
- Hengli's expanding LR2 backlog — Greek owners Arcadia Shipmanagement and Thenamaris have recently booked LR2s at the yard, indicating more tonnage in the pipeline.
- Further fleet consolidation by Montanari — the 2023 purchase options on eight product tankers built in 2007–2008 and last year's addition of younger MR units show an ongoing ownership refresh.
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