New Shipping, a private shipping company owned by famous Greek shipowner Adam Polemis, is reported to have signed a contract with a Chinese shipyard to build Suezmax tankers, continuing its recent momentum of a high-profile resale transaction.
New Shipping has signed a contract with Beihai Shipbuilding for 2 163,000 DWT Suezmax tankers with options for two more, according to European shipbroker news. Sources revealed that the price of each vessel is approximately US$77 million, slightly below the current market valuation, and delivery is expected in 2028.
Recently, Chinese shipbuilders have received multiple orders for Suezmax oil tankers, further highlighting the growth momentum in the new oil tanker construction market.
A few days ago, Hengli Heavy Industries announced that it had successfully received an order from Eastern Pacific Shipping (EPS), owned by Israeli shipping magnate Idan Ofer, for 2+2 157,000 DWT LNG dual-fuel Suezmax tankers, with a unit price of nearly US$90 million.
Last month, Dynacom Tankers, owned by Greek shipping magnate George Procopiou, ordered six 159,000 DWT conventional fuel Suezmax tankers from New Era Shipbuilding, at a price of approximately US$79 million per vessel.
Although summer is typically the off-season for shipbuilding, shipbrokers say that the new shipbuilding market remains active, with steady progress being made in various markets, particularly in the container ship and tanker sectors.
According to Equasis data, New Shipping currently operates a fleet of 26 vessels, including tankers and bulk carriers. In addition to ordering new vessels, New Shipping recently purchased the newly built LR2 tanker Hesperia Tide from Eastaway. The vessel has a deadweight of 115,000 tons and is equipped with a desulfurization device. It was built and delivered by Zhoushan Changhong International in 2025. The acquisition price is approximately US$71 million.
The acquisition highlights Adam Polemis’ strategy to upgrade its fleet by replacing old vessels with modern, environmentally friendly vessels. Prior to the acquisition of Hesperia Tide, Adam Polemis had already sold two VLCCs.