US-listed tanker owner Teekay Tankers has placed another order for 4+2 new vessels of two different types. With the vessels to be built at shipyards in China and South Korea, Teekay Tankers’ newbuild program now totals 6 confirmed vessels, a total value of $525.9 million.
Specifically, Teekay Tankers has placed orders for two Aframax/LR2 tankers at a Chinese shipyard, with the contracts signed in October; it has also ordered two Suezmax tankers—with an option for two additional vessels—at a South Korean shipyard, with those contracts signed in November. All four firm orders are scheduled for delivery in 2030. Details regarding the shipyards and the contract prices have not been disclosed.
On November 12, South Korean mid-sized shipbuilder DH Shipbuilding announced that it has signed a contract with an Oceanian shipowner to construct two 157,000 DWT Suezmax tankers. The total value of the order is 249.8 billion KRW (approximately $186 million), with a per-vessel cost of about $93 million. Delivery is scheduled for between May and June 2030.
DH Shipbuilding stated that the shipowner—a global shipping company listed on the New York Stock Exchange—had acquired two crude oil tankers currently under construction via a resale transaction in May, and subsequently visited a DH Shipbuilding yard in July. Shipbrokers and market sources have confirmed that the owner behind DH Shipbuilding’s latest order for Suezmax tankers is Teekay Tankers.
Earlier this year, Teekay Tankers agreed to acquire two Suezmax tanker newbuild resales for a total of $190 million—at a price of $95 million per vessel—with delivery expected in 2027. It is understood that both of these newbuild resales are being constructed by DH Shipbuilding.
To date, Teekay Tankers’ confirmed orders for oil tankers have reached six vessels, with a total value of $525.9 million—comprising $149.9 million in orders placed with Chinese shipyards and $376 million with South Korean shipyards. Should the two existing options be exercised, the company’s total orderbook will expand to eight vessels.
This latest round of newbuild projects marks the most recent step in Teekay Tankers’ fleet renewal program. So far in 2026, the shipowner has sold four older tankers for a total of $211 million, generating $77.8 million in proceeds. Concurrently, the company has acquired—or reached agreements to acquire—four second-hand vessels for a combined total of $190.3 million.
In addition to its presence in the Aframax/LR2 and Suezmax tanker markets, Teekay Tankers is re-entering the MR product tanker segment. In September, the shipowner reached an agreement to acquire an MR product tanker—built at a South Korean shipyard in 2020—with delivery scheduled for mid-January 2027. This transaction marks Teekay Tankers’ return to the MR product tanker market after a ten-year absence.
Earlier this year, Teekay Tankers exited the VLCC market by selling the final vessel of this type in its fleet for $84.5 million, shifting its strategic focus toward the Suezmax and Aframax/LR2 tanker segments.
Official website information indicates that Teekay Tankers was established by Teekay Corporation in December 2007 and currently owns 38 tankers (including those under construction) as well as three crude oil and refined product tankers chartered on a time charter basis.