Latsco Shipping of Greece is making a big push in the LR2 tanker segment with an order for a series of newbuildings at Hyundai Mipo Dockyard.
The Latsis group, which is already listed with seven such vessels, is set to boost its fleet with a deal for four more, TradeWinds understands.
Shipbuilding sources said Latsco is behind the 115,000-dwt LR2 newbuilding quartet that HD Korea Shipbuilding & Offshore Engineering announced on 1 March.
The Ulsan-based shipyard did not disclose the identity of the shipping company, only to say that it is from “Oceania”.
HMD’s subsidiary Hyundai Vietnam Shipbuilding will build the LR2 tankers, with delivery by June 2027.
The fuel type and specifications of Latsco’s newbuildings were not disclosed. But, the company is believed to be paying $69.6m each for the new tankers.
The price estimate suggests they will be powered by conventional marine fuel and fitted with scrubbers, shipbuilding sources said.
The Latsis family is said to be close to the Hyundai shipbuilding group and has been ordering ships there for some time.
Latsco, which is led by Paris Kassidokostas-Latsis, also has four LPG dual-fuelled VLGC newbuildings under construction at HD Hyundai Heavy Industries.
It ordered the large 87,000-cbm LPG ships between the end of 2022 and early last year.
The company was reported to be paying about $98.8m each for the dual-fuelled gas carriers.
HD HHI is scheduled to deliver the quartet between the second half of 2025 and the first half of 2026.
In the dry bulk sector, Latsco has three ultramax bulkers being built at Oshima Shipbuilding.
These bulkers mark the first vessels ordered by the company in Japan throughout its 70-year history.
Latsco booked the ultramaxes as part of its fleet diversification programme.
Oshima is scheduled to deliver the first bulker next month and the remaining two vessels in March and July 2025.
All three ultramaxes will be managed by Marla Shipmanagement, the group’s dry bulk and container ship arm.
