Okeanis Eco Tankers Expands Suezmax Fleet
Okeanis Eco Tankers, a prominent Greek tanker company, is set to enhance its fleet with the acquisition of two new Suezmax vessels from South Korea. The move comes alongside a proposed equity offering aimed at financing the purchases. The new additions are expected to bolster Okeanis’s operational capacity as the company continues to grow its presence in the maritime sector.
Details of the Acquisition
The New York- and Oslo-listed Okeanis Eco Tankers, controlled by the Alafouzos family, has finalized an agreement to acquire two 157,000 deadweight ton (dwt) tankers currently being constructed at DH Shipbuilding. These vessels are sister ships to the two Suezmaxes Okeanis recently took delivery of. The new tankers are anticipated to join the fleet by the second quarter of 2026.
Each vessel is priced at $99.3 million, with the deal being made with an unrelated third-party seller. Notably, the acquisitions are structured independently, meaning the purchase of one tanker is not contingent on the other. However, the completion of these acquisitions hinges on Okeanis successfully raising new equity and securing debt financing. To facilitate this, the company has raised approximately $130 million in gross proceeds through a share issue. The net proceeds from this fundraising effort will partially finance the vessel purchases. Should the acquisitions not proceed, Okeanis plans to redirect the funds for general corporate purposes.
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This year, Okeanis has already expanded its fleet, confirming the delivery of two new Suezmaxes, the Nissos Piperi and the Nissos Serifopoula. These vessels, built at Daehan, were acquired last year from Atlas Maritime for $97 million each. After incorporating the latest acquisitions, Okeanis will operate a modern fleet equipped with scrubbers. Currently, the company manages eight Suezmaxes and eight Very Large Crude Carriers (VLCCs), all built between 2016 and 2026. The delivery list from DH Shipbuilding indicates additional vessels are expected to be delivered soon, suggesting potential future deals in the pipeline.
