Barely two months after doubling his suezmax orderbook at DH Shipbuilding to four newbuildings, Greek owner Leon Patitsas added another batch, bringing the total to six.
Patitsas-led Atlas Maritime announced in a LinkedIn post on Friday that it has ordered two more suezmaxes with the South Korean yard.
No details were shared other than that the vessels will be trading upon delivery as Tromso Star and Arctic Star.
However, it may be safe to assume that they are sister ships to the scrubber-fitted and conventionally fuelled 157,000-dwt suezmaxes that Atlas already has under construction at the yard, as TradeWinds has already reported.
The Athens-based company is scheduled to gradually take delivery of the quartet between September 2025 and January 2026. Their price was estimated at about $85m each.
It is not immediately clear if the latest two suezmaxes are options to the first four or entirely new contracts.
In any case, they add to the company’s $1.3bn newbuilding programme for 17 tankers and car carriers, which included aframaxes it has already profitably flipped to Libya’s GNMTC.
Its latest batch brings Atlas’ newbuilding programme to 14 vessels — six 157,000-dwt suezmaxes and four 114,900-dwt LR2s at DH Shipbuilding, as well as four 7,000-ceu dual-fuel car carriers at CIMC Raffles.
Patitsas is not alone in these projects, having Denmark’s European Maritime Finance as a partner.
Copenhagen-based EMF said the “landmark initiative” marks the 19th and 20th joint newbuilding projects undertaken by the two companies.
“EMF’s decision to fortify its presence in the suezmax tanker market is a testament to the enduring success of its alliance with Atlas Maritime and the compelling market dynamics,” the financier added.
The lender pointed to sustainability features like dual-fuel capability, LNG-readiness and eco-class designation as exemplifying the shared commitment of EMF and Atlas Maritime to lead the industry in environmentally-conscious shipping practices.
“EMF, in collaboration with Atlas Maritime and DH Shipping, remains dedicated to setting new benchmarks in the maritime industry,” said EMF chief executive Martin Haugaard.
All of the vessels, including the latest ones, were arranged by Clarksons.
Atlas finances part of its newbuilding programme with proceeds from a hugely successful asset play run, both with older ships and newbuildings.
