Traditional Greek owner Pleiades expands MR tanker push with Chinese newbuild pair

The company has ordered two 50,000-dwt MR tankers at CSSC’s Guangzhou Shipyard International (GSI).

Financial terms and delivery dates have not been disclosed, with the deal signed in the middle of Posidonia week.

Shipbrokers estimate the price of a new MR tanker at between US$48M and US$52M, depending on the shipyard and country of construction.

According to data from Xclusiv Shipbrokers, a total of 53 MR tankers had been ordered globally as of late May. The current orderbook represents nearly 16% of the existing MR fleet in dwt terms.

Pleiades doubles down on MR tankers

Pleiades Shipping currently operates a fleet of nine tankers, ranging from MR vessels to Aframaxes. The Greek owner has also been active in the newbuilding market, with five LR1 tankers on order at China’s New Times Shipbuilding for delivery through 2028.

The company appears to be increasing its focus on the MR segment. In addition to the latest order, it emerged earlier this year as the buyer of 2021-built Louros, formerly known as Celsius Portsmouth. Shipbrokers reported that the vessel changed hands last year for approximately US$35.5M.

Chinese media report that GSI’s orderbook now exceeds 70 vessels, with nearly 30 tanker contracts secured in 2026 alone.

According to the shipyard, its 50,000-dwt tanker design combines strong energy-efficiency and environmental performance with advanced intelligent operating capabilities.