Hayfin Capital Management, a London-based European alternative asset management firm, has returned to the newbuild market; shortly after completing a transaction involving Suezmax tankers, it has placed an order for an MR2 product tanker at a South Korean shipyard.
According to shipping brokers and market sources, Hayfin Capital has reached an agreement with HD Hyundai Group to build four 50,000 DWT MR2-class product tankers, with delivery expected to begin in the first quarter of 2028.
The specific cost of this order has not been disclosed, but some shipbrokers estimate the cost per vessel to be approximately $50 million. Greek shipbrokers currently estimate the construction cost of an MR product tanker to be between $49.5 million and $52 million.
Prior to the announcement of this order for finished oil tankers, reports emerged in late 2025 that Hayfin Capital was in advanced negotiations with Capital Group—owned by Greek shipping magnate Evangelos Marinakis—regarding the sale of two Suezmax tankers currently under construction, which are being built by HD Hyundai Heavy Industries.
According to shipping platform data, the two newbuilds have been transferred and are currently registered under the Capital Group. Equasis data shows that one of the vessels has been delivered and renamed “Archigos,” while the other is expected to be delivered in April 2026.
Shipbuilding data indicates that when Hayfin Capital originally placed the order, it paid approximately $85 million to $86 million per Suezmax tanker. The estimated sale price of approximately $98 million per vessel suggests this is a significant asset transaction.
Previously, Hayfin Capital also ordered two Suezmax tankers from a South Korean shipyard; these vessels are scheduled for delivery in 2026 and have been named the “GH Angelou” and the “GH Christie”, respectively.
It is understood that Hayfin Capital has been deeply entrenched in the shipping sector for many years, having invested a cumulative total of over $4 billion across various sub-sectors—including dry bulk, tankers, container vessels, LPG carriers, and LNG carriers. Its maritime business strategy is led by Andreas Povlsen. According to data from Equasis, Greenheart Management—Hayfin Capital’s in-house vessel management platform—currently has 16 vessels under its ownership, comprising tankers, bulk carriers, and container ships.