Champion Tankers takes options on final two MR newbuilds in China

Norway’s Champion Tankers has successfully concluded its latest fleet renewal initiative by confirming options for two additional MR tankers from Penglai Jinglu Shipyard in China. This move marks a significant step for the Bergen-based company, which is set to receive six new 49,200 dwt IMO II tankers, with the last two scheduled for delivery in the fourth quarter of 2027.

Details of the Fleet Renewal

Champion Tankers, under the leadership of Karl Lodrup Kvalheim, initially secured four vessels last September, each valued at approximately $45 million. The company strategically kept two options open, which they have now exercised, further solidifying their commitment to modernizing their fleet. The new tankers will enhance the company’s operational capabilities, focusing on transporting a variety of products, including vegetable oils, liquid fertilizers, and clean petroleum products.

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Founded over two decades ago by Kvalheim and Arne Viste, Champion Tankers operates a diverse fleet of around 25 vessels globally. This fleet comprises a mix of owned, chartered, and third-party managed ships, allowing the company to maintain flexibility in its operations. Earlier this year, Champion Tankers also expanded its fleet by acquiring two 2010-built MR tankers from Nyhill Shipping for about $45 million, marking Nyhill’s exit from shipowning. This acquisition reflects Champion Tankers’ ongoing strategy to enhance its market position and operational efficiency.

Future Prospects

With the addition of these new tankers, Champion Tankers is poised for growth in the competitive maritime industry. The company’s focus on a varied cargo portfolio positions it well to adapt to changing market demands. As the shipping sector continues to evolve, Champion Tankers‘ proactive approach to fleet renewal and expansion will likely play a crucial role in its future success. The anticipated delivery of the final two vessels in 2027 will further bolster the company’s capabilities and reinforce its commitment to providing reliable shipping solutions.