The major Greek owner has contracted Chinese shipbuilder COSCO Guangdong for two 50,000-dwt vessels, with deliveries scheduled through 2029.
Pantheon Tankers currently operates 14 MR tankers. Six were ordered directly by the company at K Shipbuilding, formerly STX Offshore & Shipbuilding, and delivered in 2019, while the remaining eight, built between 2016 and 2017, were acquired in the secondhand market in 2022.
The Greek shipping company currently oversees a fleet of 42 tankers across the size spectrum and is also pursuing a newbuilding programme comprising VLCC and Suezmax vessels, according to information on its website.
Last month, Pantheon Tankers welcomed a new vessel into its fleet, Suezmax tanker Sea Topaz, which was delivered by South Korea’s HD Hyundai.
Earlier this summer, during Posidonia, Pantheon Tankers executive director Antonis Kanellakis told Riviera that ordering newbuildings makes sense in the current tanker market.
“Prices are high, but they are nowhere near 2008 levels. I am not saying it is cheap to build tankers, nor that it is an easy investment decision. However, given the current market backdrop, taking into account inflation, geopolitical developments and the price gap compared with resale vessels, it does make sense,” he said.
The wider Anna Angelicoussis group has also remained active this year. Its LNG carrier arm, Alpha Gas, ordered two vessels at Hanwha Ocean, with deliveries slated for 2029, while Alpha Bulkers contracted Hengli Heavy Industries for a pair of Capesize vessels.
Alpha Gas currently operates 14 gas carriers, while dry bulk affiliate Alpha Bulkers controls a fleet of 33 vessels.
Active market
The MR tanker newbuilding market has remained strong this year, attracting significant interest from owners. According to Xclusiv Shipbrokers, owners had contracted a total of 104 MR2 tankers as of late July, making the segment the second-most popular tanker size after VLCCs.
The orderbook-to-fleet ratio now stands at more than 17%, while the average fleet age is above 12.5 years.
COSCO Guangdong has also been active in securing orders in recent months, with Thenamaris and Safety Management Overseas, the private affiliate of Safe Bulkers, entrusting the yard with MR tanker newbuildings.
Source: Riviera