Recently, Korea Shipbuilding & Offshore Engineering Co., Ltd.(HD KSOE) announced that it has signed a contract with a Liberian shipping company for the construction of two crude oil carriers at a cost of about $85.2 million per vessel, with a total order value of KRW 222.6 billion (about $170.4 million), to be built by Hyundai Samho Heavy Industries, and scheduled for delivery in June 2026.
Korean media reported on Nov. 14 that the shipping company is Greek shipowner Arcadia Shipmanagement (Arcadia), and the new ship is a 158,000 dwt Suezmax tanker, which uses traditional marine fuel. Suezmax tankers are the largest tankers that can pass through the Suez Canal, usually between 130,000 and 150,000 dwt.
It is the first new vessel Arcadia has reportedly ordered in eight years to strengthen its fleet.In 2014, Arcadia ordered four 158,517 dwt Suezmax tankers from HD Hyundai Heavy Industries at a cost of $65 million per vessel.In 1999, Arcadia also ordered four 75,000 dwt salvage vessels from HD Hyundai Heavy Industries. The vessels are 218 meters in length, 32 meters in breadth and 19 meters in depth, equipped with 12,000 hp engines and capable of speeds up to 14.5 knots.
Founded in 1998, Arcadia has a fleet of 10 tankers, including six Suezmaxes and four Aframaxes.