Dynacom Tankers Management, the tanker shipping company owned by Greek king George Procopiou, has returned to New Times Shipbuilding once again, placing an order for two new Suezmax tankers in its large order book.
Dynacom Tankers has placed an order with New Times Shipbuilding for two 155,000 dwt Suezmax tankers, which are expected to be delivered in 2027, according to Trade Winds. The new tankers will run on conventional fuel.
At present, New Times Shipbuilding has become one of the preferred shipbuilders for Dynacom Tankers due to its competitiveness in the tanker construction market. In mid-January this year, Dynacom Tankers had placed an order for six 75,000 dwt product tankers with New Times Shipbuilding. The order had been placed as early as last year, but was previously undisclosed. The new tankers would be conventionally fueled with desulphurization units and scheduled for delivery between 2026 and 2027.
Last July, Dynacom Tankers placed an order with New Times Shipbuilding for four very large crude carriers (VLCCs) for delivery in the second half of 2025 and 2026 at a cost of $115 million per unit. Running on conventional fuels, the series of VLCCs will be equipped with an exhaust gas cleaning system, EGCS, in a liquefied natural gas (LNG) and methanol reserved design.
Notably, the above two 155,000 dwt Suezmax tankers are the second newbuilding order made public by New Times Shipbuilding this month.
Last week, Magni Partners, a UK company owned by Norwegian shipowner Tor Olav Troim, announced an additional order for two 320,000 dwt liquefied natural gas (LNG) dual-fuel VLCCs from New Times Shipbuilding. Deliveries of the two new VLCCs are expected to begin in the second half of 2027.
In 2023, New Times Shipbuilding completed and delivered 27 ships, totaling 3,711,500 deadweight tons, and signed new shipbuilding orders for 43 ships, totaling 6,483,000 deadweight tons. As of December 31, 2023, New Times Shipbuilding had 101 ships on hand with 13,273,700 deadweight tons and orders are scheduled until 2027.
In 2024, New Times Shipbuilding plans to complete and deliver 31 ships, about 3.92 million deadweight tons, for the whole year.