Greek owner New Shipping linked to three-ship Suezmax newbuilding deal in China

The prominent Greek shipowner has been linked to a contract for three 161,800-dwt Suezmaxes at CSSC Beihai Shipbuilding. Shipbroking and market sources indicated that two of the vessels were signed in 2025, with the third added in the first days of 2026.

Chinese media reported on the order this week, citing undisclosed Greek interests. According to the same reports, the deal marks Beihai Shipbuilding’s fullscale entry into the Suezmax segment, further expanding the yard’s large-tanker portfolio. The three newbuildings will be conventionally fuelled and compliant with the latest International Maritime Organization requirements.

In September, Riviera reported that New Shipping had placed an order for two Suezmaxes at Samsung Heavy Industries, with construction assigned to HSG Sungdong Shipbuilding.

Earlier in 2025, the company had also been linked to a letter of intent with Beihai Shipbuilding for up to four Suezmaxes, though shipbroking sources later noted that the arrangement had not progressed to a firm contract. This now appears to have changed as the year drew to a close.

Data from Xclusiv Shipbrokers, provided to Riviera, shows that Greek owners placed orders for 34 Suezmaxes in 2025, an increase from 25 units in the previous year. Globally, 57 vessels were contracted, compared with 43 in 2024 – making Suezmaxes the only tanker segment to record year-on-year growth.

Equasis lists New Shipping with a fleet of 27 vessels, a mix of bulk carriers and tankers. In addition to its newbuilding activity, the company has recently acquired 2010-built VLCC New Strength, formerly Nave Constellation, at a reported price of around US$53M.