George Procopiou's Dynacom is being linked to an order for four suezmax tankers worth KRW 459.3bn ($334m) contracted with Samsung Heavy Industries.
The South Korean shipbuilder said today that it had won the order, which it said is for an African shipowner.
It is the first suezmax order the shipyard has signed this year.
It did not disclose the buyer’s identity or vessel size but said the quartet will be delivered by December 2027.
Brokers said the price of $83.5m apiece for the 158,000-dwt crude carriers appears to be on the low side, probably because they are being subcontracted to a Chinese shipbuilder for construction — a first for SHI.
Rival HD Hyundai Heavy Industries signed a deal for four scrubber-fitted suezmax tanker newbuildings with Cido Shipping in July and the tankers were reported to cost close to $91m each.
“The suezmax tankers that Samsung inked are most likely to be powered by conventional marine fuel,” said a broker.
This is the second newbuilding deal that SHI has announced this week.
On Thursday, it disclosed that it had won a KRW 358bn order to build an LNG carrier for delivery in June 2027.
SHI identified the contracting party as a shipper in Asia. Industry sources suggested that it was Japan’s K Line.
SHI said the latest order brings the total number of vessels it has contracted to 29, with a cumulative value of $6bn. It has so far achieved 62% of its annual target of $9.7bn.
The newbuildings include 22 LNG carriers, two very large ammonia carriers and one shuttle tanker.
Harry Papachristou and Lucy Hine contributed to this article
