Akrotiri Tankers has locked in a second suezmax newbuild at China's New Times Shipbuilding, paying $84.4m for a 157,000 dwt crude tanker scheduled for delivery in June 2029.

The Greek owner returned to the same yard that booked its first suezmax — a sister ship contracted earlier this year for about $82m, also due in 2029. Shipbroking sources confirmed the latest contract value.

What is in Akrotiri's suezmax orderbook?

The Marielena Procopiou and Konstantinos Lampsias-led company now controls two 157,000 dwt suezmaxes on order at New Times. Both are slated for 2029 delivery, giving the newcomer one of the most concentrated Greek-led suezmax programmes of the current ordering cycle.

New Times has rapidly become Akrotiri's primary newbuilding partner. The owner started with two LR1 product tankers at the yard late last year before stepping up to larger crude tonnage. Earlier this month, the company added two 93,000 cu m VLACs at New Times for 2029 delivery — its first venture into gas shipping.

How does the price tag compare?

The $84.4m headline for the new suezmax runs about $2.4m above the roughly $82m paid for the first unit. The gap suggests modest steel-cost inflation since the first contract, marginal specification differences, or simple negotiation dynamics. Comparable suezmax newbuilds at Chinese yards have cleared in the $80m–$90m band through 2024 and 2025 as owners returned to the crude tanker segment after a quieter 2022–23 phase.

What does the move signal for shipowners and charterers?

Akrotiri's expansion beyond the LR1 product tanker segment reflects a deliberate diversification play. The suezmax tie-up puts the company directly in the long-haul crude trades — the lanes dominated by Greek, Asian, and Middle Eastern owners where charter rates have firmed on Atlantic-to-Asia tonne-mile demand and on the rerouting of sanctioned barrels.

The VLAC addition on top spreads the asset base across product, crude, and gas. Concentrating three 2029 delivery buckets from a single yard compresses the capex curve. It also positions the owner to bring a fully modern, fuel-efficient fleet to market at one point in the next cyclical upturn.

For charterers, oil majors, and Atlantic basin crude lifters, two more suezmax newbuilds on a still-thin orderbook offer limited near-term relief. The global suezmax orderbook remains well below historical share-of-fleet ratios, keeping 2027–2029 vintage tonnage relatively scarce. Owners carrying similar delivery exposure should retain pricing leverage into the next phase of the cycle.

What comes next?

Akrotiri's 2029 fleet plan now spans two LR1s, two suezmaxes, and two VLACs — all at New Times. Look for a third suezmax order from the same partnership before year-end, or a shift to alternative yards as suezmax berth availability at the Chinese builder narrows through 2027 and 2028.