Lundqvist Rederierna has added a second aframax tanker to its orderbook at Sumitomo Heavy Industries.
Chief executive Ben Lundqvist told TradeWinds that the company has signed up for the 112,000-dwt crude tanker.
The move comes after the Finnish outfit confirmed an order in April for an aframax at the yard for delivery in 2022.
The orders continue a series of at least nine ships that the company has ordered at Sumitomo over the past eight years.
Lundqvist said the first of the most-recently ordered pair is expected to be delivered in January next year, while the second will follow in August 2022.
Lundqvist confirmed that both tankers will run on conventional fuel oil when delivered.
But the company is prepared to potentially install LNG propulsion in the future.
No price has been revealed for aframax newbuildings, but a recent comparable ship ordered at South Korea's Daehan Shipbuilding by Atlas Maritime came in at a reported $46m.
Mariehamn-headquartered Lundqvist is a pure aframax owner with a fleet of 10 tankers now trading with an average age of six years. Seven of these tankers were built at Sumitomo.
The company's fleet trades within Europe, mostly carrying Russian crude from St Petersburg and Novorossiysk, as well as some North Sea cargoes.
The company tends to keep its tankers until they are 20 years old.
Currently, it has two 19-year-old vessels in its fleet — the 105,000-dwt Sarpen and Alfa Italia (both built 2002). These vessels are seen as potential sales candidates when the newbuildings are delivered, depending on the market.
Lundqvist last sold a tanker in July 2019, when the 98,000-dwt Thornbury (built 2001) went to Akron Trade and Transport. It is still trading as the Yoselin.
VesselsValue lists 66 aframax crude carrier newbuildings currently on order or launched, but this includes several old orders that may be victims of slippage.
Greeks have been the most active in the recent ordering of aframax crude carriers.
Atlas Maritime, Aegean Shipping Management and Pleiades Shipping Agents have all inked or declared options since the beginning of the year, bringing their current aframax orderbooks to five, four and three, respectively. Chartworld has another five on the way.
But South Korea's Sinokor Merchant Marine has the biggest tally, with seven aframax crude carriers set for delivery this year and an eighth next year.
