A Swiss-based trading company is said to have splashed about $180m on a series of MR tanker newbuildings in China.
Several shipbuilding sources said Global One Energy — the Geneva-based outfit also known as Gloen — has ordered four 50,000-dwt product tankers at Yangzijiang Shipbuilding to be delivered between 2026 and 2027.
The sources said Gloen was among several unnamed companies that ordered newbuildings at the Chinese shipyard between July and September this year.
Gloen chief executive Viatcheslav Savine confirmed that his company had entered a building project for a few MR tankers with a Chinese shipyard.
He did not disclose the identity of the shipbuilder.
“We see interest and perspective in that [MR tanker] segment,” Savine said. “As future employment for those units, we see a long-term TC [time charter] or eventually a straight sale.”
Savine said this is not the first time that Gloen has ordered newbuildings. The company previously contracted a Japanese shipyard to build three LPG carriers. The details of the gas ships were not disclosed.
There are few reports on Gloen’s trading and shipping activities. However, the company’s LinkedIn profile states that it is in the oil and gas market. Its main products are LPG, high sulphur gas oil and fuel oil.
Gloen said it focuses mainly on the Mediterranean Sea, the Red Sea, the Gulf Cooperation Council member markets and the Indian Ocean.
Gloen said it operates LPG carriers under long-term leases to cover its LPG transportation needs. For oil products, it fixes tankers in the spot market.
Gloen’s website states it is pursuing the integration of its LPG transport business through the creation of a fleet of market-competitive carriers.
There is no listing of Gloen’s existing LPG fleet in shipping databases such as Clarksons’ Shipping Intelligence Network or VesselsValue.
However, VesselValues shows Gloen has a 4,000-dwt product tanker — Hull No 722 — on order at Japan’s Sasaki Shipbuilding for delivery this year.
In May, Gloen was reported to have sold one 7,350-cbm LPG carrier newbuilding at Sasaki to Indonesia’s Samudera Shipping for $26.2m.
Pertamina took delivery of the Japanese-built fully pressurised vessel in June and named it Sinar Toraja (built 2023).
Gloen’s website states that the company is continuing to seek expansion and is “building on its current network in Africa to establish solid businesses in preparation to set up its base in West Africa”.
Gloen has offices in Singapore and Dubai.
Early this month, Singapore-listed Yangzijiang disclosed that it had inked 14 newbuildings worth $770m during the third quarter of 2023.
Shipbuilding players following Yangzijiang’s newbuilding activities said the orders comprised four 40,000-cbm LPG carriers, two LR1 tankers and eight MR tankers.
The midsize LPG carrier newbuildings were ordered by Singapore’s Jaldhi Overseas while Greek shipowner George Procopiou’s Dynacom Tankers Management booked a pair of 75,000-cbm product carriers. Tsakos Energy Navigation ordered the MR tankers. The US-listed Greek shipowning company ordered two scrubber-fitted vessels to be delivered in the first quarter of 2026.
