Greek shipowner Stealth Maritime, part of the Harry Vafias group, has returned to South Korean shipyard to place new order, bringing its total investment in newbuilding projects to approximately $1.3 billion.
According to shipbroking sources, Stealth Maritime has ordered two 50,000 DWT MR product tankers from HD Hyundai Heavy Industries. Priced at $53 million per vessel—bringing the total contract value to $106 million—the ships are scheduled for delivery in the first half of 2029. Neither party has yet publicly announced the order.
Data indicates that Stealth Maritime currently has over ten oil tankers under construction—all at South Korean shipyards—spanning vessel types such as MR and LR2 product tankers, Suezmax tankers, and Very Large Crude Carriers (VLCCs).
Earlier this year, Stealth Maritime placed orders for two LR2 product tankers and two Suezmax tankers with HD Hyundai-affiliated shipyards, bringing its total orderbook with the group to eight vessels, all scheduled for delivery by the first half of 2029.
In addition, Stealth Maritime has placed an order with Hanwha Ocean for two 320,000 DWT VLCCs at a cost of approximately $133 million per vessel, with delivery expected in early 2030. Notably, this marks the shipowner’s return to the VLCC sector after a hiatus of about 20 years, ending its long absence from this market segment.
To date, Stealth Maritime manages a total of 46 vessels, comprising 17 oil tankers and 29 liquefied petroleum gas (LPG) carriers.