Advantage Tankers bolsters VLCC orderbook

Advantage Tankers, based in Geneva, has made a significant move in the shipping industry by placing a new order for a Very Large Crude Carrier (VLCC) with South Korea’s Hanwha Ocean. This latest order marks a strategic expansion into the larger tanker segment, bringing the company’s total newbuilding orders to ten vessels, including four VLCCs. The financial details of this latest order remain undisclosed, but previous contracts indicate a price of approximately $129.7 million per vessel.

Strategic Growth in the Tanker Market

Under the leadership of Tugrul Tokgoz, Advantage Tankers is positioning itself for growth in the competitive tanker market. The company, which was established in 2014 and is controlled by Nazli Williams, currently operates a diverse fleet of around 25 vessels, six of which are VLCCs. The recent order for a third 320,000 deadweight ton (dwt) unit at Hanwha Ocean’s Okpo shipyard underscores the company’s commitment to expanding its capabilities in the VLCC sector.

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The new vessels are scheduled for delivery in the second and third quarters of 2027. In addition to the newbuilds at Hanwha Ocean, Advantage Tankers has another VLCC currently under construction at Jiangsu Hantong Ship Heavy Industry in China, expected to join the fleet in late 2026. This expansion aligns with Hanwha Ocean’s recent contracts with its shipowning affiliate, Hanwha Shipping, and Greece’s Capital Maritime, further solidifying its position in the VLCC market.

As the shipping industry continues to evolve, Advantage Tankers’ strategic investments in new vessels reflect a proactive approach to meeting future demands and enhancing its operational capacity in the larger tanker segment.