Greek owner Central Group places major order for 10 MR tankers in China

CSSC’s Guangzhou Shipyard International (GSI) signed the contract for the series of 50,000-dwt vessels with the Greek owner on 3 February. The shipbuilder noted that this is Central Group’s first newbuilding programme in China, following previous orders placed at South Korean yards.

The vessels are based on a GSI design and incorporate energy-saving technologies while complying with current environmental regulations. “The design delivers outstanding manoeuvrability, safety and economic performance,” the shipbuilder said.

Central Group currently oversees a fleet of eight vessels, comprising a mix of VLCCs, Suezmaxes and MR2 tankers. The group also has a presence in the US stock market through Top Ships and its spin-off, Rubico.

Top Ships has drawn market attention in recent months due to its involvement in the megayacht and real estate sectors.

Orderbook trends

According to Allied Shipbroking, eight MR tankers have been ordered so far this year, placing the segment second only to VLCCs in global shipowners’ preferences.

Xclusiv Shipbrokers’ latest monthly report shows that the current orderbook represents 15% of the active fleet in dwt terms. At the same time, the market is facing an ageing fleet, with vessels aged 16 years or older accounting for approximately 42% of ships currently in operation.

Notably, MR2 vessels account for 15% of the Greek tanker orderbook, ranking third behind Suezmax and Aframax/LR2 tankers, according to Xclusiv data.