NAT signs contract for two Suezmax tankers with South Korea’s DH Shipbuilding

DH Shipbuilding announced on 14 January that NAT had placed an order for a pair of 157,000-dwt tankers, with deliveries scheduled through November 2028. The contract is valued at approximately US$171M.

NAT announced in mid-December that it had entered into a preliminary agreement for the two Suezmax newbuildings at an undisclosed South Korean shipyard, with delivery expected in the second half of 2028, at a cost of around US$86M per unit.

The company is also continuing its fleet renewal programme, having earlier revealed the sale of two older vessels built in 2004 and 2005.

Specialising in the Suezmax market, NAT currently operates a fleet of 20 vessels, according to its website.

This marks NAT’s first order with DH Shipbuilding. “This decision is seen as further proof that the quality, competitiveness, and delivery reliability of DH Shipbuilding’s Suezmax tankers are among the best in the world,” the yard said.

The shipbuilder added that the new vessels will feature an updated hull design, improving fuel efficiency and operational performance by more than 3% compared with existing models. They will also incorporate environmentally friendly specifications that comply with International Maritime Organization (IMO) requirements.

A DH Shipbuilding official said, “Suezmax crude oil tankers are our strongest vessel type, and we will continue to focus on securing orders for our core products this year.”