A newbuilding programme paired with long-term charters
Splash247 describes an agreement to acquire nine Marshall Islands companies holding ECO MR product and chemical tanker contracts at Guangzhou Shipyard International. Each vessel was specified at 47,499 dwt, with deliveries planned for 2028 and 2029. The $41m share purchase involved an entity affiliated with chief executive Evangelos Pistiolis and was approved by an independent board committee.
The significance of the reported package lies in its combination of construction, financing and employment. Seven-year charters to a major oil trader carried four additional optional years and potential gross revenue of around $679m. Chinese leasing arrangements were being finalised, with the acquisition conditional on financing and the shipbuilding contracts subject to customary refund guarantees.
An editorial summary of the linked publication. Figures and plans refer to its publication date.