Topic
fleet expansion
Logistics Scorpio Tankers Takes Minority Stake in Eight VLCC Newbuilds and Orders Two LR2s
Scorpio Tankers has taken a minority stake in an eight-vessel VLCC newbuilding venture and signed a letter of intent for two LR2 product tankers at Jiangsu Hantong Ship Heavy Industry. The company also completed MR newbuilding agreements at Jiangsu Yangzi-Mitsui. The moves expand Scorpio's directly controlled newbuilding programme to 14 ships, with exposure to additional eight VLCCs through the joint venture. Net income surged to $387.5 million in the second quarter.
Logistics Vafias-backed Stealth Maritime Orders Two More MR Tankers from HD Hyundai, Extending $1.3bn South Korea Newbuilding Drive
Harry Vafias-backed Stealth Maritime has ordered two additional 50,000 dwt MR product tankers at HD Hyundai Heavy Industries for $53m each, extending a South Korean newbuilding drive valued at around $1.3bn. The company now has at least 15 tankers under construction at South Korean yards across MR, LR2, suezmax and VLCC segments, with deliveries stretching through 2030.
Logistics W Marine broadens newbuild drive with ultramax order at Jiangsu Dajin
Greek shipowner W Marine has placed an order for three 64,500 dwt ultramax bulk carriers at China's Jiangsu Dajin Heavy Industry, with deliveries scheduled for May, August, and November 2028. The deal, the company's first ultramax newbuildings, expands its newbuilding pipeline to five vessels, including two 1,800 TEU feeder containerships booked at Huanghai Shipbuilding. W Marine recently took delivery of two kamsarmaxes from Chengxi Shipyard, marking its return to the newbuilding market after nearly 20 years.
Logistics Top Ships Redirects Dubai Refund into Three MR Tanker Newbuildings, Orderbook Reaches 10
Top Ships has redirected funds from a cancelled Dubai property deal into three MR tanker newbuildings, increasing its orderbook to ten vessels. The company will pay about $7.4m after deducting the $23.5m refund. The vessels have secured five-year charters with an unnamed oil major, with potential gross revenue of $140.6m.
Logistics Zhenghe Mainline Orders Six 4,600 TEU Boxships at Hengli Shipbuilding for Baltic Service
Chinese state-owned carrier Zhenghe Mainline has ordered six 4,600 TEU containerships from Hengli Shipbuilding in a deal worth over RMB3 billion ($443 million). The vessels will serve a new route linking Taicang with the Baltic, giving parent Jiangsu Port Group greater control over capacity for eastern China exporters. The order brings Zhenghe's confirmed orderbook at the yard to 11 ships with combined capacity of about 47,700 TEU.
Logistics Aruna Shipping Doubles Down With 10-Ship Ultramax Bulk Carrier Programme in China
Turkey's Aruna Shipping has ordered up to 10 ultramax bulk carriers from Yangzhou Guoyu Shipbuilding's new Zhoushan operation, including six firm 64,500 dwt vessels and four options. The order, valued at up to $350 million, will more than double Aruna's owned fleet and marks a shift into larger dry bulk tonnage. Deliveries are expected from Q2 2028 through 2030, according to shipbuilding databases.
Logistics Evalend Shipping Places $310m Newcastlemax Order at Dajin Heavy Industry
Evalend Shipping has placed a $310m order for three-plus-one newcastlemax bulk carriers at China's Dajin Heavy Industry. The firm order covers three 211,000 dwt vessels with delivery across 2029 and 2030, marking Evalend's entry into the newcastlemax sector.
Logistics Minerva expands container fleet with four 6,000 TEU newbuildings at Hengli Heavy Industries
Greek shipowner Minerva Dry has ordered four 6,000 TEU container vessels at China's Hengli Heavy Industries, stepping up from its existing fleet of 1,760–2,400 TEU ships. The order, valued at roughly $320 million, brings Minerva's total containership orderbook to 13 vessels and its investment in the sector to nearly $1 billion. Eastern Pacific Shipping has also been linked to additional 6,000 TEU newbuildings at the same yard.
Logistics Malaysia's Lianson Fleet Group Acquires Two Ultramax Bulk Carriers for $52.32 Million
Malaysia's Lianson Fleet Group (LFG) is acquiring two 2017-built ultramax bulk carriers for $52.32 million, its first vessels in that size segment. The deal, along with a previously announced supramax acquisition, will bring LFG's fleet to 41 units comprising barges, tugboats, and bulk carriers. The purchases align with LFG's strategy to diversify beyond offshore support vessels into global dry bulk shipping.
Logistics Union Maritime Widens Newbuild Push with VLGC Debut at HD Hyundai Heavy Industries
According to Splash247, diversified UK owner Union Maritime has been linked to its first very large gas carrier (VLGC) newbuilding order, with two VLGC/VLAC vessels on order at HD Hyundai Heavy Industries in South Korea. The ships, costing roughly $234 million total, are expected to deliver in 2029. This marks the company's entry into the large gas carrier sector, adding to its broad orderbook of tankers, chemical tankers, product carriers, and dry bulk tonnage.
Logistics DP World Expands India Coastal Fleet with 2,500 TEU+ Containership Acquisition
DP World has acquired the DP World Indus, a 2,500 TEU+ containership, to expand its Indian coastal fleet. The vessel will move domestic container cargo between Indian ports, supporting the country's Maritime Vision 2030. DP World's coastal network now spans 14 ports with 10 vessels, having handled over 473,000 TEU in 2025.
Logistics MAC Shipping Expands Chemical Tanker Newbuilding Program with Four Vessel Order at Taizhou Maple Leaf
Singapore-based MAC Shipping has ordered four 29,000 dwt chemical tankers at Taizhou Maple Leaf Shipbuilding for delivery in 2029, expanding its newbuilding program to eight vessels across two Chinese yards. The latest deal adds to the company's push into stainless steel chemical tanker tonnage, following an earlier order of four 25,900 dwt units at Jiangxi New Jiangzhou.
Logistics Seanergy Maritime Launches €100m Bond on Euronext Athens for Dry Bulk Fleet Expansion
Nasdaq-listed capesize owner Seanergy Maritime has launched a €100m public bond offering on Euronext Athens, with proceeds earmarked for newbuilding payments and secondhand vessel acquisitions. The five-year bond aims to raise up to €100m, with net proceeds of about €95.6m. The company's fleet currently stands at 19 vessels, with seven newbuildings under construction. The move follows a broader trend of Greek shipping companies tapping local capital markets, including Safe Bulkers' dual listing on Euronext Athens.
Logistics Tsakos Energy Navigation Orders Second LNG Carrier from HD Hyundai, Expanding Newbuilding Program to 20 Vessels
Tsakos Energy Navigation (TEN) has ordered a second LNG carrier from HD Hyundai Heavy Industries, scheduled for delivery in the first quarter of 2029. The order expands TEN's newbuilding program to 20 vessels, including LNG carriers, tankers, and shuttle tankers. The company's pro forma fleet now stands at 83 vessels with over 11 million dwt capacity.
Logistics Pan Ocean orders two more VLCCs as crude tanker expansion accelerates
South Korean shipowner Pan Ocean has ordered two more very large crude carriers (VLCCs), ammonia-ready and costing about $122m each, for delivery by September 2030. The move extends a series of investments that have reshaped its fleet, including a $525m order for four VLCCs at Hanwha Ocean and a $700m acquisition of 10 VLCCs from SK Shipping.
Logistics MSC Returns to Megaship Ordering with Up to 20 LNG Dual-Fuel Giants at Hengli
Mediterranean Shipping Co (MSC) has placed an order for up to 20 ultra-large 20,000 TEU LNG dual-fuel containerships at China's Hengli Heavy Industry, according to MB Shipbrokers. The deal, which includes firm orders and options, is one of the largest containership contracts in 2026, with deliveries starting in the first half of 2029.
Logistics Zhonggu Logistics Upsizes Boxship Newbuilds to 6,300 TEU and Plans Sale of Three Vessels
Zhonggu Logistics has upsized its newbuilding program, revising eight planned 6,000 TEU boxships to 6,300 TEU, while preparing to sell three vessels including a 2023-built postpanamax. The total investment remains unchanged at $1 billion, with deliveries starting in 2028. The company is also financing the expansion via a convertible bond issue and has ordered 10 feeders for the restarted Wuhan Qingshan Shipyard.
Logistics Global Ship Lease expands newbuild programme with five more midsize boxships
Global Ship Lease (GSL) has ordered five more midsize containerships for about $413m, with delivery in 2029 and multi-year charters averaging 8.1 years. This brings its newbuilding programme to 15 ships, expected to generate over $1bn in adjusted EBITDA. The company also emerged as an owner behind a 13-ship order at CSSC Huangpu Wenchong Shipbuilding.
Logistics MPCC expands into larger vessel segment with $340m acquisition of four 7,000 TEU boxships
Oslo-listed tonnage provider MPC Container Ships (MPCC) has agreed to buy four 7,000 TEU containerships for $340 million, marking a step up in vessel size for the company. The 2023- and 2024-built ships will each have a three-year fixed-rate charter to a top-five liner, generating $180 million in revenue. The deal is financed partly via a new $375 million loan facility.
Logistics Metrostar Books MR Tanker Duo in South Korea for 2028 Delivery
Greek shipowner Metrostar Management has ordered two 50,000 dwt MR product tankers at HD Hyundai Mipo in South Korea for delivery in 2028. The vessels, priced at about $53 million each, are part of a broader fleet rebuild around product tonnage. The order comes amid strong Greek contracting activity in the tanker sector.
Logistics Varamar Enters Ship Ownership with Four-Vessel Acquisition, Marks Strategic Shift
Antwerp-based multipurpose and breakbulk operator Varamar has acquired four 5,200 dwt vessels, marking its first entry into ship ownership. The vessels will be integrated into its commercial network by early 2027, giving the company greater flexibility and reducing reliance on the volatile charter market. The move comes amid constrained modern MPP tonnage and lagging replacement orders.
Logistics Emarat Maritime Orders Up to Six Feeder Containerships at Chinese Yard for 2028 Delivery
Dubai-based Emarat Maritime has ordered up to six feeder containerships at China's Guangji Xinneng Shipbuilding, with three firm 930 TEU vessels and options for three more, scheduled for delivery in 2028. The order marks the company's continued expansion beyond its traditional tanker and dry bulk markets into container shipping.
Logistics Keyfield Expands Offshore Fleet with New AHTS Vessel
Keyfield International has acquired a 2014-built AHTS vessel for $7.35 million to expand its offshore fleet. The vessel, to be renamed Keyfield Joyful, will undergo upgrades and is expected to be deployed in late 2026.