The investment group led by Evangelos Marinakis has announced the acquisition of the new Suezmax tanker Exmar for over $106 million. This tanker, identified as HN5112, is currently being built at DH Shipbuilding in South Korea and is expected to be launched in 2027.
Details of the Tanker Purchase
HN5112 is the first of four Suezmax tankers that Exmar signed a construction contract for last September. This Belgian company, known as a gas transportation specialist, has specifically turned to building crude oil tankers in this contract.
Read more: The tanker market is affected by geopolitical developments and severe fluctuations
These tankers are capable of carrying about one million barrels of crude oil, and the first unit is expected to be delivered in the third quarter of 2027. Exmar also has options for building four additional tankers under this contract.
Market Analysis and Financial Implications
The announced sale price for HN5112 represents a significant increase in the price of this tanker compared to the initial contract price. Estimates suggest that the contract for the four Exmar tankers was around $339 million, which means an average price of $85 million per tanker. Therefore, the sale price of HN5112, with an increase of over $20 million from its initial price, clearly indicates an increase in the value of Suezmax assets in the market.
This price increase is particularly observed in a context where prices and revenues related to Suezmax tankers are rapidly rising. Recent market reports have shown that the one-year hiring rate for modern ships is between $120,000 and $125,000 per day, which has contributed to the rapid increase in second-hand prices and resale.
Exmar has not yet confirmed the sale of this tanker, and its current fleet registration still includes HN5112 and three other tankers scheduled for delivery in 2028. Meanwhile, Exmar has taken steps to build these tankers, having identified strong market prospects for Suezmax in last September.
Read more: Middle East crude oil exports reach the highest level since the start of the war · Increase in the fleet of tankers under the Russian flag to 382 vessels
