Union Maritime is said to have signed six tanker newbuildings in the Far East, lifting its tally of the vessel type it has on order to 26 ships worth more than $1bn.
Shipbuilding sources following the company’s newbuilding activities said it had returned to China’s Wuhu Shipbuilding for the vessels.
It has commissioned two 49,000-dwt product carriers and four IMO type 2 methanol-ready product/chemical tankers.
The MR deal includes two optional vessels.
One newbuilding broker said Union Maritime signed the MR tanker newbuildings contract some time ago, but the deal was never reported.
This is the first MR tanker deal Union Maritime has penned since it started its order spree two years ago. Its previous contracts were for IMO type 2 18,500-dwt product/chemical tankers.
The company shows the MR tankers as Hull Nos W23131 and W23132 with delivery dates scheduled for March and June 2026.
The order also marks Wuhu’s debut in the MR tanker sector.
Union Maritime has also booked four 18,500-dwt chemical/product tankers at Wuhu, bringing the total number of the IMO type 2 tankers it has on order there to 10.
Wuhu is slated to deliver four ships in 2025 and six vessels between February 2026 and January 2027.
Union Maritime has listed these 10 newbuildings on its website.
The prices of the MRs and the 18,500-dwt chemical tankers have yet to emerge.
But brokers suggested that Union Maritime will pay between $43m and $45m apiece for the MR tankers and slightly more than $30m each for the chemical carriers.
As for the remaining 14 newbuildings on its orderbook, it has two stainless-steel 19,900-dwt tankers booked at Japan’s Fukuoka Shipbuilding for delivery in December 2025 and June 2026.
Larger tankers
Union Maritime ordered the duo last year and was believed to be paying just below $40m per ship.
Two other Chinese shipyards are also building the IMO type 2 tankers for the London-based company.
In the larger tanker segment, Union Maritime has six scrubber-fitted LR2 tankers on order.
Yangzijiang Shipbuilding, Shanghai Waigaoqiao Shipbuilding and Cosco Shipping Heavy Industry Yangzhou are each building two vessels for the owner.
The company was reported to be paying slightly more than $65m apiece.
In May, Union Maritime was reported to have booked two ultramax bulker newbuildings costing $32m each at New Dayang Shipbuilding. But brokers said the bulker deal did not materialise.
Union Maritime was founded in 2006 by Laurent Cadji. The company has a diversified fleet of 65 vessels comprising 51 tankers, 12 bulkers and two offshore vessels.
The shipping company is also active in the sale-and-purchase market. VesselsValue shows it acquired five secondhand ships in 2022 and seven in 2023.
For this year, it has so far bought two LR2 tankers, one MR1 tanker and one 17,900-dwt product/chemical tanker.
