Evangelos Marinakis’ Capital Group is negotiating to acquire two Suezmax tankers currently under construction.
Sources indicate that the two Suezmax tankers Capital Group intends to acquire were originally ordered by London-based alternative asset manager Hayfin Capital Management, which currently has four Suezmax tankers under construction.
Shipbuilding data indicates that when Hayfin Capital Management ordered this batch of Suezmax tankers from HD Hyundai’s shipyard, the unit price per vessel was approximately $85 million to $86 million. Although the specific resale price has not been disclosed, multiple shipbrokers estimate the unit price at around $98 million. Greek shipbroker assessments indicate the current resale value for Suezmax tankers stands at approximately $97 million to $98 million.
In recent weeks, Suezmax tankers and Very Large Crude Carriers (VLCCs) have dominated the shipbuilding market, with sentiment in the crude tanker sector steadily improving. Shipbrokers note that while such transactions typically command a premium, resale deals remain highly attractive compared to newbuild orders due to their earlier delivery schedules.
As one of Greece’s most active shipowners in the newbuilding market, Capital Group maintains a substantial order book encompassing various vessel types including LNG carriers, tankers, and container vessels. Since the beginning of this year alone, Capital Group has been associated with multiple orders for LNG carriers, VLCCs, and feeder container vessels. Examples include VLCC projects with Hengli Heavy Industries and Hanwha Ocean, as well as several container vessels from HD Hyundai’s shipyards.
The seller in this transaction, Hayfin Capital Management, has primarily focused on the dry bulk sector this year, acquiring three Capesize bulk carriers from Enesel this summer. The firm has long been deeply involved in the shipping industry, with investments exceeding $4 billion across dry bulk carriers, tankers, container ships, liquefied petroleum gas carriers, and liquefied natural gas carriers. Its maritime strategy is led by Andreas Povlsen.