Shipbroker MB Shipbrokers has reported that Greece’s Tsakos Shipping & Trading has placed an order with New Times Shipbuilding for four 75,000 dwt LR1 product tankers at a cost of $55 million per vessel, with a total order value of $220 million (RMB 1.58 billion).
The new vessels are equipped with desulphurization units and are expected to be delivered between 2027 and 2028.
Recently, New Times Shipbuilding has secured new ship orders from a number of foreign shipowners, including eight 159,000 dwt Suezmax tankers from Dynacom Tankers of Greece, which are expected to be delivered from 2028, and two 113,500 dwt Aframax tankers from Sentek Marine of Singapore, which are expected to be delivered at the end of 2027 and January 2028, respectively.
At present, New Times Shipbuilding has 500,000-ton, 300,000-ton and 100,000-ton dry docks, and its main products are large and medium-sized bulk carriers, tankers, container ships and various chemical tankers. With the increase of orders, New Times Shipbuilding is investing RMB 5 billion to expand its production capacity, the new project covers an area of 900 mu, and will build a new 700-meter-long dock, and will have 4 dry docks after completion.
Tsakos Shipping & Trading was founded in 1970 by Captain Panagiotis N. Tsakos and is headquartered in Athens, Greece, according to the official website. The company manages a diversified fleet of vessels, including liquefied natural gas (LNG) carriers, tankers, bulk carriers and container ships. In addition, through specialized divisions or independent subsidiaries, the company offers a range of professional services from newbuilding supervision to financing, insurance and corporate services.