Greek shipowner Vyron Vasileiadis is expanding his fleet through a new shipbuilding program.
On June 30, Vyron Vasileiadis confirmed the order of 2+2 50,000 DWT MR product tankers from South Korean medium-sized shipyard K Shipbuilding. Each vessel costs nearly US$48 million, and with the option order, the total value of the four new vessels is US$192 million. The first two vessels are expected to be delivered in the first quarter of 2027.
Vyron Vasileiadis said the newbuilding program reflects the company’s fleet expansion strategy focused on sustainability and cost-efficiency and marks “a new phase in its broader growth plans.”
It is reported that the Venergy order is the third new shipbuilding business undertaken by K Shipbuilding this year. In April and May this year, K Shipbuilding received two MR product tankers from SteelShips and Sea World Management and Trading of Greece, with a single vessel cost of US$46.3 million and US$51 million respectively. Notably, Sea World Management and Trading’s order marks the shipowner’s return to South Korea for new oil tanker construction after a 17-year hiatus.
According to Clarkson data, K Shipbuilding currently has nearly 30 orders on hand, with MR product tankers being the shipyard’s core business.
Venergy Maritime was established in 2021 and reportedly purchased two MR product tankers built in 2018 for approximately US$75 million. They were recently renamed Captain Nikos and Captain Leon, formerly known as PS Milano and PS Atene, respectively. This move marks Venergy Maritime’s official entry into the shipowner sector.
Venergy Maritime is part of the Vasileiadis Group, which has diversified businesses in Greece and internationally, including port reception facilities, waste management, alternative fuel production, renewable energy and technology.