Greek outfit Golden Energy Management has signed up for yet another suezmax tanker newbuilding at DH Shipbuilding, lifting its order tally there to three in about 18 months.

Shipbuilding and market sources concur that Golden Energy has ordered a 158,000-dwt tanker at the South Korean yard.

It will be conventionally fuelled, with an option to install a scrubber. Its delivery time is set towards the end of 2026.

Price details have not been disclosed.

Clarksons, however, is putting the average cost of a suezmax newbuilding nowadays at $89m. In terms unadjusted for inflation, this is the highest newbuilding price for such ships since January 2009.

DH is already building two suezmaxes for the same Greek company, which is controlled by the Restis family. The first is slated for delivery in late 2024 and the second in the first quarter of next year.

As TradeWinds reported last year, Golden Energy is believed to be paying just about $77m for each of the initial two vessels.

The shipowner’s decision to expand its original suezmax newbuilding programme to three such ships, in the teeth of rising prices, is characteristic of Greeks’ confidence in finding gaining employment for them, or in their value rising.

Conventionally fuelled ships account for the bulk of Greeks’ surging $45bn orderbook. Crude and product tankers make up about half of that figure.

Busy ordering lately has propelled the suezmax orderbook to levels unseen in years.

According to Clarksons figures, suezmax tonnage under construction in May climbed to 14.1% of active tonnage on the water. This is the highest reading since July 2017.