Capital Tankers, an oil tanker operator owned by Greek shipping magnate Evangelos Marinakis, announced that it has secured an option from its parent company, Capital Maritime & Trading, to acquire 13 newly built oil tankers at the prices specified in the original shipbuilding contracts.
The fleet of newbuilds includes 11 Very Large Crude Carriers (VLCCs) currently under construction at Hengli Heavy Industries and 2 Suezmax tankers currently under construction at HD Hyundai Samho (hereinafter collectively referred to as the “Option Fleet”), which are expected to be delivered between the fourth quarter of 2027 and the third quarter of 2028.
According to a third-party vessel valuation report, the total market value of the option fleet exceeds the option acquisition cost by $253.7 million, meaning Capital Tankers will acquire this fleet of new vessels at a price significantly below market value.
Most vessels of this type currently on the market are scheduled for delivery in the second half of 2029 or later; therefore, Capital Tankers’ option fleet is more competitive.
Under the agreement, Capital Tankers may exercise its purchase option for any vessel at the shipbuilding contract price by December 31, 2026; thereafter, should any of these vessels be sold, the company retains a right of first refusal.
According to its official website, Capital Tankers’ total fleet consists of 33 vessels, including 15 in service and 18 under construction, in addition to the 13 vessels in its option fleet recently disclosed.
The active fleet consists of 1 VLCC, 6 Suezmax tankers, 4 Aframax tankers, and 4 LR2 tankers, of which 9 are equipped with scrubbers and 12 are equipped with LNG dual-fuel propulsion systems or feature LNG-ready designs; the 18 newbuilds are scheduled for delivery between 2026 and 2028.