Maran Tankers is making a foray into the shuttle tanker sector with a three-ship newbuilding project worth $390m at a South Korean shipyard after scooping charters for the vessels from Brazilian energy company Petrobras.
Newbuilding sources said the Maria Angelicoussis-led Greek owner has signed a provisional newbuilding contract with DH Shipbuilding for three 158,000-dwt dynamic positioning two shuttle tankers.
They said the specialist newbuildings will likely cost Maran about $130m each and be scheduled for delivery dates in 2027.
DH Shipbuilding is understood to have prioritised the newbuildings due to their high values over conventional vessels.
“A letter of intent was inked,” one shipbuilding source said. “They are finalising the newbuilding discussions and we think the signing of the official shipbuilding contract will take place soon.”
An official at DH Shipbuilding declined to comment on the shipyard’s newbuilding activities, citing contract confidentiality. A Maran spokesperson said the company does not comment on commercial matters.
TradeWinds is told that Maran emerged as the winner of a tender launched by state-run Petrobras several months ago.
The charter duration for the trio, which will use conventional marine fuels, is 10 years plus options for an additional five years.
If Maran Tankers firms up the newbuilding contract with DH Shipbuilding, the deal would mark the company’s debut into the specialised shuttle tanker arena where Knutsen NYK Offshore Tankers, Malaysia’s AET, Norway’s Viken, Altera Shuttle Tankers and Tsakos Energy Navigation are already players.
Shuttle tankers typically cost 50% to 100% more than a standard suezmax tanker newbuilding because they are fitted with sophisticated bow loading equipment and dynamic positioning systems to keep the vessel on location.
Maran Tankers is already a major owner with 54 tankers on the water comprising 39 VLCCs, 14 suezmax tankers and one aframax crude carrier.
Maran also has eight 155,000-dwt LNG dual-fuel suezmax tanker newbuildings on order at China’s New Times Shipbuilding. The octet was ordered last year for about $87m each with delivery dates scheduled for between June 2026 and May 2027.
DH Shipbuilding is a medium-size shipbuilder in South Korea and was formerly known as Daehan Shipbuilding. It was renamed in late 2022 when merger-and-acquisition specialist KH Investment took control of the company by paying about $200m to Korea Development Bank for 90% of the shipbuilder’s stake.
Clarksons’ Shipping Intelligence Network shows DH Shipbuilding has 26 newbuildings on its orderbook. It is constructing suezmax tankers for Euronav, Atlas Maritime, Advantage Tankers and Enterprises Shipping.
