Golden Energy Management has added an MR tanker newbuilding to its orderbook at STX Offshore & Shipbuilding.
The move appears to be a renewal effort by the Victor Restis-controlled shipowner, which will also expand its presence in the MR sector.
Industry sources said the Greek company has exercised an option for a 50,000-dwt product tanker that it held at the South Korean shipyard. The move brings Golden Energy's MR tanker orderbook at STX to three.
The shipowner signed up for its earlier two newbuildings last summer in a deal that included options for two more ships.
“Golden Energy is only going for one ship,” said a shipbuilding source. “It has dropped the second [optional] vessel.”
A source close to the shipowner, however, said the shipowner has not yet decided whether to drop the option.
Officials at STX declined to comment on the newbuilding contract, citing contract confidentiality.
Sources said Golden Energy is paying around $36.5m each for the three MR tankers, though that is believed to be for a scrubber-fitted ship. The source close to the company said the product carriers, which will be built to IMO Tier III standards, will not be equipped with scrubbers. The company is scheduled to take delivery of one tanker at the end of this year and the other two ships in early 2021.
The company's latest move at STX follows a series of sales last year.
Sales effort
Golden Energy offloaded the 51,000-dwt Energy Protector (built 2004) in September to US-based MT Maritime Group for $11m. The tanker has been renamed MTM Hudson.
A month later, in what was its first sale-and-leaseback transaction ever, Golden Energy sold the Sungdong-built, 46,600-dwt Energy Progress and Energy Puma (both built 2008) to China’s Minsheng Financial Leasing for more than $17m each.
Outside the MR sector, Golden Energy also sold other tankers last year. It divested the 71,000-dwt product tanker Energy Conqueror (built 2004), which went to bunker supplier Peninsula Petroleum and was renamed Conqueror. It sold the 158,000-dwt suezmax carrier Energy Trophy (built 2018) to Vitol subsidiary Elandra for $62.5m before that ship was renamed Elandra Osprey.
Golden Energy is listed with 11 tankers on the water. Restis also controls a bulker fleet managed by Enterprises Shipping & Trading, which is listed with more than 20 bulkers.
For STX, the latest newbuilding move by Golden Energy adds to an orderbook of nine MRs at its Jinhae facility.
Harry Papachristou contributed to this story
