Greek shipping company Metrostar Management, led by Theodore Angelopoulos, has placed an order for two new MR product tankers. The contract is with South Korean shipbuilder HD Hyundai Mipo for two 50,000 deadweight tonnage (dwt) vessels. These tankers are expected to be delivered in 2028, with market sources indicating a price of around $53 million per vessel.
This move signifies Metrostar's return to the newbuilding market for MR tankers, a segment crucial for transporting refined petroleum products globally. The investment reflects a strategic decision to expand or renew their fleet, potentially anticipating future demand in the product tanker sector.
For freight forwarders and shippers, an increase in the global MR tanker fleet, even with a 2028 delivery, suggests a potential long-term impact on capacity and rates for refined oil product transportation. While immediate effects are minimal, a larger fleet could eventually contribute to more stable or competitive rates for these specific cargo types in the future. It also indicates confidence in the long-term outlook for liquid bulk shipping.
