Greek shipowner JHI Steamship has placed an order with South Korea’s mid-sized shipbuilder K Shipbuilding for 2+1 Aframax tankers, according to TradeWinds. Each vessel is priced at $75 million, with the confirmed initial order for two vessels totaling $150 million. Should the option for the third vessel be exercised, the total cost for all three ships would reach approximately $225 million.
The new vessels will use conventional fuels and are designed to meet the enhanced environmental standards of the International Maritime Organization (IMO). Delivery is scheduled for late 2027 to early 2028.
Previously, JHI Steamship’s new shipbuilding projects were only undertaken by Japanese shipyards. However, Sumitomo Heavy Industries, which had long been building its tanker orders, decided to stop building commercial vessels after delivering existing orders in the first quarter of 2026, and thus placed orders with South Korean shipyards instead.
It is worth noting that the last batch of orders to be delivered for Sumitomo Heavy Industries’ exit from the commercial shipbuilding market came from JHI Steamship.
Currently, JHI Steamship owns two medium-sized tankers built by Sumitomo Heavy Industries, including one 115,000 DWT Aframax tanker scheduled for delivery in 2026—marking the final vessel from this shipyard before its withdrawal from commercial shipbuilding—along with eight bulk carriers (five in operation, three under construction). All vessels in service were either built or are being constructed by Japanese shipyards.