New York-listed shipping giant Navios Maritime Partners has officially confirmed its return to the VLCC newbuilding market, unveiling a large-scale tanker programme that could eventually grow to eight vessels.
The company, led by Angeliki Frangou, announced that it has agreed to acquire four scrubber-fitted VLCC newbuildings from an unrelated third party in a deal valued at approximately $482m. Deliveries are scheduled for the second half of 2028.
Importantly, all four vessels have already secured employment before delivery. The ships have been fixed on firm charter contracts lasting around five years at a net daily rate of $47,763. Charterers also hold options to extend employment for an additional year at $52,650 per day.
Beyond the initial four vessels, Navios has also secured options for an additional two plus two VLCC newbuildings, giving the company the flexibility to expand the programme to as many as eight ships without committing immediate capital.
While the company did not reveal the construction yard, shipbuilding sources previously cited by Splash earlier this year pointed toward China’s Wuhu Shipyard as the likely builder behind the programme.
The VLCC investment forms part of a much broader fleet renewal strategy currently underway at Navios.
Earlier, the company also agreed to acquire two Japanese-built capesize bulk carrier newbuildings under 12-year bareboat charter arrangements. The vessels, expected for delivery in late 2028 and early 2029, carry an implied acquisition value of around $134.3m.
Both capesize ships have already secured approximately five years of employment with minimum earnings near $25,000 per day, alongside a 50% profit-sharing structure linked to the C5TC freight index.
At the same time, Navios has continued trimming older tonnage from its fleet.
Earlier this year, the company agreed to sell two older VLCCs built in 2009 and 2011 for a combined $136.5m. One vessel has already been delivered to its new owner, while the second is expected to be handed over during the current quarter.
The group has also disposed of a 2008-built 4,730 teu containership for $30m, alongside a 2010-built post-panamax bulker and a 2006-built panamax vessel for combined proceeds of $22.8m.
Meanwhile, deliveries of modern vessels continue to strengthen the fleet profile.
Navios recently took delivery of a 7,900 teu methanol-ready containership equipped with scrubbers, which immediately entered a four-year charter earning $42,463 per day.
The company has also added one MR2 product tanker and three aframax/LR2 tankers, all backed by charter agreements averaging roughly five years in duration.
According to Navios, recently signed charter contracts have added another $548.7m in contracted revenue, bringing the company’s total contracted revenue backlog to approximately $4.1bn extending through 2037.
Six newbuilding tankers alone have already secured employment averaging around five years at daily earnings of approximately $41,268.
The latest investments further reinforce Navios’ position as one of the shipping industry’s most diversified listed operators.
The group currently owns and operates 65 dry bulk vessels, 51 containerships and 57 tankers. Including vessels under construction and charter-in agreements, Navios’ orderbook now includes two capesize bulkers, seven containerships and 17 tankers — among them the newly announced four VLCCs, nine aframax/LR2 tankers and four MR2 product tankers.
