New Greek tanker player makes newbuilding debut with MR contract in South Korea

The company has confirmed a contract for two 50,000-dwt eco-design MR tankers at K Shipbuilding in South Korea. Venergy has secured favourable delivery slots, with both vessels scheduled to enter the market in Q1 2027.

As reported by Riviera in late April, representatives from K Shipbuilding visited Greece to explore co-operation opportunities with local owners. The yard has already secured MR tanker orders from two different Greek companies earlier this year.

According to the latest weekly report from Xclusiv Shipbrokers, the cost of constructing an MR2 tanker at a South Korean yard is currently estimated at approximately US$50M.

While Greek sentiment remains split between South Korea and China for newbuilds, a number of shipowners have shown a clear preference for South Korean yards in 2025.

High-profile players such as Evangelos Marinakis’ Capital Group and Kriton Lendoudis’ Evalend Shipping have recently inked significant contracts with Hanwha Ocean and HD Hyundai, respectively.

Conversely, owners like George Prokopiou’s Dynacom Tankers and Polembros Shipping continue to pursue substantial newbuilding projects in China, taking advantage of more competitive pricing.

Expanding the fleet

Founded in 2021, Venergy Maritime has now taken delivery of its first vessels, officially marking its entry into shipowning. The company reportedly spent around US$75M on two 2018-built MR tankers, recently renamed Captain Nikos and Captain Leon (formerly PS Milano and PS Atene).

“With four new-generation tankers now under the Venergy Maritime banner, we are proud to deliver excellence at sea, today and tomorrow,” the company said in a statement.

Venergy Maritime operates under the umbrella of the Vasileiadis Group of Companies (V Group), which maintains a diversified presence across port reception facilities, waste management, alternative fuel production, renewable energy, and technology sectors in Greece and internationally.

Notably, V Group has partnered with the Suez Canal Authority to establish Antipollution Egypt. The joint venture will provide port reception services for collecting solid and liquid waste from vessels transiting the Suez Canal, utilising custom-built eco-friendly vessels constructed in Egyptian shipyards.