Bruton Expands VLCC Fleet with New Orders at New Times Shipyard
Oslo-listed shipping company Bruton, backed by Tor Olav Trøim, has announced the exercise of options for two additional Very Large Crude Carriers (VLCCs) at China’s New Times Shipyard. This strategic move marks a significant step in Bruton’s ongoing expansion within the supertanker market. The company confirmed that the pricing and payment terms for these newbuildings remain consistent with its previous contracts with the shipyard. The delivery of these two vessels is scheduled for 2029.
This latest order follows Bruton’s earlier agreement in October, which included two scrubber-fitted VLCC units along with options for two more vessels of the same design. The initial pair is expected to be delivered between the fourth quarter of 2028 and the second quarter of 2029. With these new orders, Bruton now has a total of eight VLCC newbuildings on order at New Times Shipyard, showcasing its commitment to enhancing its fleet in a competitive market.
Trøim’s Return to the Tanker Market
Tor Olav Trøim’s re-entry into the tanker market in 2023 has been marked by a series of strategic investments. After a 15-year hiatus, Trøim made headlines with a $270 million order for two VLCCs, signaling a renewed confidence in the crude tanker sector. This initial investment was soon followed by further expansions through Trøim-backed Andes Tankers, which also secured additional newbuildings.
The decision to exercise options for more vessels underscores Trøim’s bullish outlook on the tanker market. The first vessel in this latest series is anticipated to deliver as early as July 2026, indicating a proactive approach to fleet development. The growing demand for crude oil transportation and the need for modern, efficient vessels are likely driving this expansion.
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Bruton’s strategic positioning in the supertanker market, combined with Trøim’s experience and insights, suggests a robust future for the company. As the global shipping industry continues to evolve, Bruton aims to leverage its newbuildings to meet the increasing demands of the market while adhering to environmental regulations through the inclusion of scrubber technology in its fleet.
