Greek shipowner Aegean Shipping Management has taken a significant step in its growth strategy by entering the Very Large Crude Carrier (VLCC) market for the first time, placing an order for four new tankers at China’s Hengli Heavy Industries.
The order, announced during Posidonia in Athens, includes two LR2/Aframax tankers and two VLCCs, marking the company’s debut in the world’s largest crude oil carrier segment. Financial terms, delivery dates and vessel pricing have not been disclosed.
Expanding beyond traditional tanker segments
Until now, the Piraeus-based company has focused primarily on smaller crude and product tanker categories. The addition of VLCCs represents a major expansion of its operating profile and provides exposure to one of the most important segments of the global crude transportation market.
Led by George Melissanidis, Aegean Shipping said the investment forms part of a long-term fleet renewal and growth programme designed to strengthen its position across multiple tanker sectors while maintaining a modern fleet profile.
Fleet to reach 22 vessels
Following the delivery of the newly ordered ships, Aegean Shipping’s fleet will grow to 22 vessels.
The expanded fleet will consist of:
16 tankers
6 bulk carriers
Despite the expansion, the company said its average fleet age will remain close to three years, allowing it to maintain one of the youngest fleets among Greek shipowners.
The strategy reflects the growing importance many owners place on fleet efficiency, environmental performance and long-term competitiveness.
Growing confidence in Chinese shipbuilding
The agreement also signals a diversification of Aegean Shipping’s shipbuilding partnerships.
Historically, the company has placed the majority of its newbuilding contracts with COSCO Shipping Heavy Industry. The latest order introduces Hengli Heavy Industries into its construction programme, highlighting increasing confidence in one of China’s fastest-growing large-scale shipbuilding groups.
The move reflects the rising prominence of Chinese yards in attracting major international tanker orders.
Expansion programme already underway
The latest order adds momentum to an already active growth phase for Aegean Shipping.
Over the next six months, the company is expected to take delivery of four LR2/Aframax newbuildings. All four vessels have already secured charter employment with commodities trading giant Vitol, providing immediate commercial deployment upon delivery.
With the addition of its first VLCCs, Aegean Shipping is positioning itself for broader participation in global crude oil transportation while continuing to pursue a strategy centred on fleet renewal, charter visibility and long-term expansion.
