Swiss tanker owner/operator Advantage Tankers has confirmed recent orders for 10 new vessels—spanning the Suezmax, Aframax/LR2, and MR2 product tanker segments—to be built by three shipbuilders across China and South Korea. All these new vessels feature an LNG dual-fuel ready design.
Guangzhou Shipyard International secures order for six MR2 product tankers.
Fleet data from the Advantage Tankers website indicates that the company currently holds orders for six 49,900 DWT MR2 product tankers at Guangzhou Shipyard International (GSI)—a subsidiary of China State Shipbuilding Corporation (CSSC)—with deliveries scheduled between the first quarter of 2029 and the second quarter of 2030.
Last month, market rumors indicated that Advantage Tankers had placed an order with Guangzhou Shipyard International for four MR2 product tankers, with delivery scheduled for the first through fourth quarters of 2029. The market estimates the construction cost per vessel at approximately $45 million.
Based on the latest reports, Advantage Tankers has placed an additional order with Guangzhou Shipyard International for two MR2 product tankers, scheduled for delivery in the first and second quarters of 2030. This brings the total number of orders for this ship type between the two parties to six.
Based on the estimated construction cost of the first batch of four newbuilds, the total value of the six new vessels is approximately $270 million. The new vessels will be named “Advantage Mission,” “Advantage Modest,” “Advantage Moon,” “Advantage Muse,” “Advantage Miracle,” and “Advantage More.”
It is worth noting that the six MR2 product tankers undertaken by Guangzhou Shipyard International represent the first newbuilds for Advantage Tankers as it enters the MR product tanker segment; in recent years, the company has primarily focused on Suezmax tankers and Very Large Crude Carriers (VLCCs).
DSIC Secures Orders for 2 Aframax/LR2 Oil Tankers
In addition to Guangzhou Shipyard International’s newbuilding project, Advantage Tankers’ newbuilding list shows that the company has placed an order with Dalian Shipbuilding Industry Corporation (DSIC), a subsidiary of China State Shipbuilding Corporation, for two 114,000 DWT Aframax/LR2 oil tankers. The newbuilds are expected to be delivered in the fourth quarter of 2029 and the first quarter of 2030, at which time they will be named “Advantage Lucky” and “Advantage Loft.”
DSIC’s new vessel project has been confirmed by Tuğrul Tokgöz, CEO of Advantage Tankers, who stated that both new vessels have been placed under long-term charter contracts with an unnamed oil giant. This order signifies that the company has expanded its business into new areas.
As reported, Advantage Tankers’ first collaboration with DSIC took place earlier this year, when the two parties signed a contract for the construction of two 307,000 DWT VLCCs, scheduled for delivery in the second quarter of 2028 and the third quarter of 2029, respectively. The vessels will be named “Advantage Venture” and “Advantage Voyager.”
As a major international shipowner that has long relied on South Korean shipyards for shipbuilding, the shipbuilding contracts signed with DSIC and Guangzhou Shipyard International indicate that Advantage Tankers is gradually adjusting its shipbuilding strategy by entrusting some of its newbuilding projects to Chinese shipyards.
Samsung Heavy Industries Wins Order for 2 Suezmax Tankers
Among the 10 new vessel orders recently confirmed by Advantage Tankers are two 157,000 DWT Suezmax tankers to be built by Samsung Heavy Industries, which are expected to be delivered in the fourth quarter of 2029. The new vessels will be built by Samsung Heavy Industries in collaboration with PaxOcean, a Singapore-based shipbuilder affiliated with the Kwok Maritime Group, and will be named “Advantage Success” and “Advantage Supreme.”
So far this year, Advantage Tankers has placed orders with Samsung Heavy Industries for four Suezmax tankers; the remaining two, named “Advantage Spirit” and “Advantage Synergy,” are expected to be delivered in the first and second quarters of 2029, respectively.
According to its official website, Advantage Tankers currently holds orders for 22 new vessels, with Chinese and South Korean shipyards undertaking 10 and 12 of these orders, respectively. The orderbook includes two VLCCs and two Aframax/LR2 tankers from Dalian Shipbuilding; six MR2 product tankers from Guangzhou Shipyard International; four 320,000 DWT VLCCs from Hanwha Ocean (scheduled for delivery in the third quarter of 2027); four Suezmax tankers from DH Shipbuilding (scheduled for delivery between the third quarter of 2027 and the second quarter of 2029); and four Suezmax tankers from Samsung Heavy Industries.
Excluding newbuild projects, Advantage Tankers currently operates a fleet of 28 vessels, with delivery dates spanning from 2010 to 2026. The company has set a goal to expand its fleet to 50 vessels by 2030.