Shipping broker Bancosta reports that Greece-based Latsco Shipping has placed an order with South Korean shipbuilder SK Oceanplant for 2+2 115,000 DWT Aframax oil tankers. The construction cost per vessel is approximately $77 million; the total value of the confirmed order for the first two vessels is approximately $154 million. If the two optional vessels are exercised, the total construction cost for the four new vessels will be approximately $308 million. The first two vessels are expected to be delivered in June and November 2030.
This is the second oil tanker contract SK Oceanplant has announced recently. On August 31, SK Oceanplant signed a contract with Greece-based Sea Pioneer Shipping to build 6+2 115,000 DWT Aframax oil tankers, with a total contract value of $572.8 million. Delivery is expected between 2029 and June 2030. This is the largest single newbuilding order for merchant ships the shipyard has secured in recent years.
SK Oceanplant has prior experience in building small-to-medium-sized chemical tankers, having delivered vessels in the 6,600 DWT and 3,990 DWT classes between 2018 and 2020, after which it shifted its business focus to offshore wind power and offshore structural engineering.
However, SK Oceanplant has not abandoned the pursuit of orders for small commercial vessels and has clearly expressed its intention to expand its commercial shipbuilding business. The announcement of an order for up to 12 Aframax tankers further reinforces the company’s momentum in returning to the commercial shipbuilding sector.
As a leading player in the Greek shipping industry, shipowner Latsco Shipping operates a diversified fleet of over 30 vessels and is actively expanding its business beyond traditional tanker and liquefied gas transport operations.