Bruton, the tanker operator owned by Norwegian shipowner Tor Olav Trøim, announced on its official website that it has exercised its option to order two additional Very Large Crude Carriers (VLCCs) from New Times Shipbuilding. The new vessels are scheduled for delivery in 2029.
This order was signed in October 2025, when Bruton announced a 2+2-vessel contract with New Times Shipbuilding for the construction of 310,000 DWT VLCCs. The first two vessels are scheduled for delivery between the fourth quarter of 2028 and the second quarter of 2029. This series of VLCCs is equipped with desulfurization systems and incorporates provisions for future LNG fuel power upgrades.
It is reported that after a fifteen-year hiatus, Tor Olav Trøim returned to the tanker market in 2023, ordering two VLCCs from New Times Shipbuilding through its subsidiary Magni Partners at a unit price of $138 million. In February 2024, the company placed an additional order for two more vessels of the same type.
Following the exercise of this option, Bruton’s total VLCC order volume at New Times Shipbuilding has increased to eight vessels. The first vessel is scheduled for delivery in July 2026, with all eight newbuildings expected to be delivered by 2029.
Notably, just one month prior (December 2025), New Times Shipbuilding held the hoisting ceremony for its 1,600-ton gantry crane, marking another major milestone in the shipyard’s new energy vessel intelligent manufacturing project.
It is understood that the total investment of the New Energy Ship Intelligent Manufacturing Project (Phase I) being promoted by New Times Shipbuilding is 5 billion yuan, covering an area of approximately 900 mu. A super-large dry dock 700 meters long (equipped with 1,000-ton and 1,600-ton gantry cranes) will be built, which can construct two VLCCs side by side.