Norwegian shipping and offshore investor Kjell Inge Rokke is being named as the latest prominent industry player to book space for VLCC newbuildings, pencilling in slots for up to four vessels at South Korean shipbuilder Hanwha Ocean.
Brokers were circulating reports of a possible letter of intent on the scrubber-fitted vessels early this week.
Rokke is said to have secured two rare delivery slots for the second half of 2026, on which Hanwha had been offering handover dates in July and October that year when VLCC berth availability at other yards is now well into 2027.
He is also said to have secured options on another pair of large tankers.
Brokers have been quoting prices in the $127m to $128m range for the firm ships.
One said that while this is likely comparable to levels being quoted by competitor HD Hyundai Heavy Industries, it represents a significant jump on the $90m price tag seen for the last VLCCs contracted in South Korea by Euronav in 2021.
Some were baffled as to what vehicle Rokke might use to park any VLCC newbuildings, after he sold out of both Ocean Yield and AMSC, suggesting that if confirmed, the orders may signal a new shipping venture for the investor.
The VLCC orderbook is running at a historic low with about 20 ships under construction. A single vessel, contracted by AET, is expected to be handed over this month.
Big name moves
Talk of this latest piece of VLCC newbuilding action follows moves by two other big names this year amid broking talk that Norwegian owners are in the grip of a craze on the large tanker sector.
This publication has learned that John Fredriksen’s Sea Tankers Management has now lifted subjects on its planned order for up to four scrubber-fitted VLCCs at Dalian Shipbuilding Industry Co, or DSIC.
The two firm vessels are priced at $116m, reflecting a 10% discount that can be achieved at Chinese yards, and are for delivery dates in 2026.
Evangelos Marinakis’ Capital Maritime & Trading has also set aside up to six berths at DSIC for LNG dual-fuelled VLCCs. The first three vessels, which are priced at about $136m or more, are for 2027 delivery dates with the rest to follow in 2028.
Other big shipping names are also understood to be circling large tanker berths but slot availability remains at a premium.
Rokke and Fredriksen are not the only Norwegian investors who have looked at VLCC newbuildings of late.
Last summer, TradeWinds reported Tor Olav Troim had returned to the space with an order at China’s New Times Shipbuilding for up to six LNG dual-fuelled VLCCs.
