Following a new order for two state-of-the-art LR2 tankers, Aegean Shipping Management and COSCO seal a relationship of trust, which has been built step by step, for a decade.
Aegean Shipping Management, owned by Giorgos Melissanidis, thanks to the close cooperation with the Chinese giant, succeeded, at a time when open berths are a species on the verge of extinction, to agree on two slots with delivery in the second half of 2026 and the first half of 2027. It is reminded that a few months ago it had agreed on two LR2s again at COSCO Shipping Heavy Industry Yangzhou.
Last November’s agreement ranked Aegean as COSCO’s top customer in Europe, while this new deal further strengthens Aegean’s lead.
Two ships
The order concerns two LR2 tankers, type ice class 1C, carrying capacity of 114,000 dwt each. These are sister ships to the two LR2 tankers that the Greek shipping company placed on order at the Chinese shipyard last November. Therefore, Aegean’s orderbook at Cosco has now reached four tankers, while the company also has 16 modern vessels in the water.
It is noteworthy that at a time when the vast majority of first-class Asian shipyards are offering delivery times extending to 2028 and 2029, Aegean’s last two tankers will be ready much earlier, in the second half of 2026 and the first of 2027.
Following this investment, Aegean doubled the number of ice class 1C tankers in its fleet. This type of ship is particularly attractive to charterers.
In particular, the two LR2 tankers will be compatible with the Energy Efficiency Design Index (EEDI) – Phase III of the International Maritime Organization (IMO). They will also feature the latest version of MAN B&W electric motors that ensure optimal fuel consumption.
The installation of energy saving devices Pre-shrouded Vanes (PSV) and Hub Vortex Absorber Fins (HVAF) will enhance the power efficiency of the ships.
Also, energy savings are achieved by installing LED lighting, as well as frequency converters on each seawater pump in the engine room. Finally, the ships will be equipped with state-of-the-art marine ballast treatment systems.
Fleet
Aegean Shipping Management has a fleet of 16 modern tankers and bulk carriers, which will rise to 20 following the addition of the four LR2 under construction.
The company’s fleet (10 tankers and six bulk carriers) is one of the most modern in the world. The average age of the active fleet reaches 3.8 years, while its total capacity is 1.32 million dwt.
Finally, it is noted that the Greek shipping company has implemented a plan to create a “Green Fleet”, investing exclusively and only with its own orders to shipbuilding units.
