Geneva-based Advantage Tankers has added two 114,000 dwt LR2 product tankers at Dalian Shipbuilding Industry Corporation (DSIC) and tacked two further 49,900 dwt MRs onto its programme at Guangzhou Shipyard International (GSI), lifting its newbuilding orderbook to 22 vessels against 28 tankers in operation.

Chief executive Tuğrul Tokgöz confirmed the LR2 order. The two ships, named Advantage Lucky and Advantage Loft, are scheduled for delivery in the fourth quarter of 2029 and first quarter of 2030 respectively. Both LR2s have already secured long-term employment with an unnamed oil major.

The additional MR pair carries 2030 delivery dates and lifts the medium-range programme at the CSSC yard to six hulls — two beyond the quartet Advantage signed in September. No contract price was disclosed, although comparable tonnage at GSI has recently priced at around $45m per ship, putting the additional pair at roughly $90m on a comparable basis.

What does the move do to Advantage's fleet math?

The eight product tanker hulls locked in this round — two LR2s and six MR2s — form part of a wider expansion that has doubled Advantage's orderbook over the past year. Tokgöz has set a target of reaching a 50-vessel fleet by 2030, requiring all 22 ordered hulls to deliver on time to bridge the gap between today's 28-ship operating base and the stated ambition.

The latest package carries LNG dual-fuel capability, continuing the owner's stated propulsion preference across its newbuilding programme.

Where is Advantage placing its tonnage?

Advantage has concentrated recent ordering at the larger end of the tanker market. Earlier this year the company signed two 307,000 dwt VLCCs — Advantage Venture and Advantage Voyager — at DSIC for delivery in 2028 and 2029.

South Korea has hosted the suezmax tranche. The 157,000 dwt Advantage Spirit and Advantage Synergy, priced at $88.25m each, build on an existing run of suezmax newbuildings reported in July.

The MR additions extend Advantage's footprint into medium-range product tonnage almost immediately after its first contract in the segment, while the LR2 order slots the company into large product carriers alongside its crude tanker exposure.

What are the commercial implications?

• Shippers and charterers: both LR2s have secured long-term employment with an oil major, locking in product tanker capacity for late-2029 and early-2030 deliveries.
• Shipyards: DSIC and GSI pick up eight product tanker hulls from a single owner this round, adding to Advantage's two VLCCs already on order at DSIC.
• Brokers: no contract price was disclosed for either tranche, leaving the $45m MR comparable and $88.25m suezmax build cost as the latest publicly available read on Advantage's unit economics.

With 22 hulls now on order and the same 22 hulls required to hit the 2030 target, on-time delivery — beginning with the 2028 VLCCs — becomes the single biggest variable in Advantage's expansion math.