EMF, Atlas Maritime confirm 'record-price' sale of two Suezmax newbuildings

The partners disclosed the divestment of 157,000-dwt North Star and Viking Star for US$97M each. The Suezmax duo, currently under construction at South Korea’s Daehan Shipbuilding Co, is scheduled for delivery in January 2026.

The transaction is expected to be completed in full upon delivery, subject to the satisfaction of agreed closing conditions.

OET, listed in both the United States and Oslo, announced the planned acquisition last week without identifying the seller.

The deal comes amid a surge in the Suezmax resale market, as newbuilding slots at leading shipyards tighten. Beyond this pending transaction, Evangelos Marinakis’ Capital Group has reportedly opened discussions with Hayfin Capital Management for an additional two Suezmax vessels.

EMF and Atlas Maritime are pursuing a joint newbuilding programme comprising eight Suezmax tankers with Daehan as the yard. The partners have already taken delivery of two vessels – currently on charter to Trafigura – while another pair has been sold to OET.

The remaining four vessels are 90% owned by Blue Harmony I and Blue Harmony II, funds managed by EMF. Their deliveries are scheduled for May 2026, July 2026, October 2026 and March 2027.

The joint venture has also invested in pure car and truck carriers as well as very large ammonia carriers.