The Greek shipping company Stealth Maritime is reported to have ordered two further MR product tankers from HD Hyundai Heavy Industries. This brings the total value of the company’s new-build programme in South Korea to around $1.3 billion.
The Greek shipping company Stealth Maritime is continuing the massive expansion of its tanker fleet. According to sources in the shipbroking industry, the company – which is part of the Harry Vafias Group – has ordered a pair of MR product tankers from the South Korean shipbuilding group HD Hyundai Heavy Industries .
Each vessel is to have a deadweight tonnage of 50,000 dwt. The price is reported to be $53 million per vessel. The total value of the order is therefore $106 million. Delivery is currently scheduled for the first half of 2029. Neither the shipping company nor the shipyard has yet publicly confirmed the order.
Stealth Maritime currently has more than ten oil tankers under construction at South Korean shipyards. According to the report, the newbuild programme comprises MR and LR2 product tankers, as well as Suezmax tankers and Very Large Crude Carriers (VLCCs).
HD-Hyundai Group already commissioned
The company had previously ordered two LR2 product tankers and two Suezmax tankers from shipyards belonging to the HD-Hyundai Group. Including the new MR tankers, the shipyard group’s order book now stands at eight vessels. They are due to be delivered by the end of the first half of 2029.
In addition, Stealth Maritime has ordered two VLCCs from Hanwha Ocean, each with a deadweight tonnage of 320,000 dwt. The price is reported to be around $133 million per vessel. Delivery is scheduled for early 2030. With this order, Stealth Maritime is returning to the VLCC segment after around 20 years. According to the information provided, the fleet managed by Stealth Maritime comprises 46 vessels. These include 17 oil tankers and 29 LPG tankers.
