On October 20, Capital Tankers, the tanker shipping company owned by Greek shipping magnate Evangelos Marinakis, announced the latest developments regarding its fleet and financing. Between September 29 and October 12, Capital Tankers secured approximately $930 million in financing for 11 Very Large Crude Carriers (VLCCs) in its fleet. These newbuilds, scheduled for delivery in 2027 and 2028, include projects at Dalian Shipbuilding Industry Corporation (DSIC, 5 vessels), Hengli Heavy Industries (3 vessels), and Hanwha Ocean (3 vessels).
Financing Secured for 11 New-Build VLCCs
Capital Tankers has entered into financing agreements for five 307,000 DWT VLCCs currently under construction at DSIC. The total financing amounts to $450.6 million. These vessels, which are capable of running on liquefied natural gas (LNG) fuel, are scheduled for delivery in 2027 (four vessels) and 2028 (one vessel).
Specifically, the five VLCCs are named “Amfitrion II,” “Alexander the Great II,” “Anemos II,” “M/T Akadimos,” and “M/T Amyntas II.” The first two vessels each secured $90.9 million in financing, while the latter three each secured $89.6 million. The shipbuilding contracts for these new vessels were signed in 2024.
In addition to the vessels ordered at DSIC, financing agreements have been arranged for three 306,000 DWT VLCCs—”M/T Aspidoforos”, “M/T Armonikos”, and “M/T Aftarkis”—which Capital Tankers has ordered from Hengli Heavy Industries. The financing amount for each vessel is $79.3 million, bringing the total financing for the three newbuilds to $237.9 million. The shipbuilding contracts for these vessels were signed in 2025, with delivery expected in 2027.
Meanwhile, Capital Tankers has secured financing agreements for three 320,000 DWT VLCCs—”M/T Alterego II”, “M/T Alexandros II”, and “M/T Apollonas II”—currently being built by Hanwha Ocean. The financing amounts are $81.3 million each for the first two vessels and $79.2 million for the third, bringing the total financing to $241.8 million. These newbuilds are equipped with LNG dual-fuel propulsion systems and exhaust gas cleaning systems (scrubbers). They are scheduled for delivery in 2027, with the shipbuilding contracts signed in 2024 and 2025.
Take delivery of one newly built Suezmax tanker
In addition to disclosing approximately $930 million in financing for newbuild vessels, Capital Tankers announced the delivery of the 155,348 DWT Suezmax tanker “M/T Amor”. Built by New Times Shipbuilding, the vessel features an LNG dual-fuel design and is equipped with a scrubber system; it is the fifth ship in a series ordered by Capital Tankers from the shipyard. A portion of the vessel’s financing was arranged through a sale-and-leaseback agreement, amounting to $64.5 million.
With the delivery of this new vessel, Capital Tankers’ active fleet has grown to 17 vessels—comprising one VLCC, eight Suezmax tankers, four Aframax tankers, and four LR2 tankers. Including an additional 16 newbuilds scheduled for delivery—10 by the end of 2027 and 6 by mid-2028—the company’s total fleet now stands at 33 vessels.
In addition, Capital Tankers holds options to acquire 13 newbuild tankers from its parent company, Capital Maritime & Trading, at the prices stipulated in the original shipbuilding contracts. This fleet of option vessels comprises 11 VLCCs currently under construction at Hengli Heavy Industries and two Suezmax tankers being built at HD Hyundai Samho, with deliveries expected between the fourth quarter of 2027 and the third quarter of 2028.