Arcadia Shipmanagement Expands Newbuild Programme with Three LR2 Tankers at Hengli Heavy Industries
Key Takeaways
- •Arcadia Shipmanagement has contracted three 114,000 dwt aframax/LR2 newbuildings at Hengli Heavy Industries for delivery in 2028, bringing its total tanker orderbook to nine vessels.
- •The company's full orderbook includes seven aframax/LR2s and two suezmaxes spread across shipyards in China and South Korea.
- •Four aframax/LR2s are scheduled for delivery from DSIC in 2027 at an estimated $63 million each, while two suezmaxes were ordered at HD Hyundai Samho for approximately $89 million each with 2029 deliveries.
- •Arcadia currently manages a fleet of nine tankers consisting of seven suezmaxes and two aframaxes, meaning the new orders will effectively double its tanker fleet.
- •The affiliated dry bulk operation Aegean Bulk is also working with Hengli on four kamsarmax newbuildings ordered late last year.
Greek tanker owner Arcadia Shipmanagement has contracted three aframax/LR2 newbuildings at China's Hengli Heavy Industries, bringing the company's total tanker orderbook to nine vessels.
The Athens-based company, led by Panagiotis and George Angelopoulos, has signed for three 114,000 deadweight tonnage (dwt) vessels scheduled for delivery in 2028. While Arcadia has listed the ships on its official website, pricing and technical specifications have not been disclosed. Hengli Heavy Industries operates the former STX Dalian shipyard complex in Changxing Island, which Hengli Group acquired and reactivated after years of dormancy, positioning the yard as a new entrant in China's commercial shipbuilding market.
With this latest order, Arcadia now has seven aframax/LR2s and two suezmaxes on order across shipyards in China and South Korea.
Four aframax/LR2s are already slated for delivery from Dalian Shipbuilding Industry Co (DSIC) in 2027. Arcadia originally contracted two firm vessels and two options at the CSSC-affiliated yard in late 2023, with brokers at the time estimating the scrubber-fitted vessels at approximately $63 million each.
Earlier this year, the company placed an order for two 157,000 dwt suezmaxes at HD Hyundai Samho. Priced at around $89 million each, the pair is scheduled for delivery in March and May 2029.
Arcadia recently took delivery of the 157,000 dwt Aegean Miracle from the same South Korean shipyard, completing an earlier three-vessel suezmax programme that also included the Aegean Fighter and the Aegean Winner.
The company currently manages a fleet of nine tankers, comprising seven suezmaxes and two aframaxes. Its affiliated dry bulk operation, Aegean Bulk, is also collaborating with Hengli on four kamsarmax newbuildings ordered late last year. Arcadia's substantial orderbook effectively doubles its managed tanker fleet, positioning the company among Greek owners pursuing fleet renewal at a time when delivery slots at major Chinese and South Korean shipyards are filling deep into the late 2020s.
Source: Splash247
