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Eastern Pacific adds fresh suezmax pair in China push

2026-04-08
20

Eastern Pacific Shipping (EPS) has booked a pair of suezmax newbuildings in China as it works to bolster its crude tanker fleet.

Shipbuilding sources say the Idan Ofer-led company has contracted CSSC-controlled Guangzhou Shipyard International (GSI) for two 157,000 dwt crude carriers, with delivery expected around 2028.

The Singapore-based owner has been reshaping its tanker exposure, using proceeds from secondhand deals to fund new tonnage. S&P data shows EPS has sold at least four suezmaxes in recent months.

The latest order adds to a broader push back into larger crude carriers. Since late 2025, EPS has been focused on a VLCC comeback, initially booking six 306,000 dwt vessels at Hengli Heavy Industry in Dalian — its first move into the segment in seven years. The series has since been expanded to at least 10 newbuilds.

Meanwhile, the company has been rebuilding its suezmax position. In mid-2025, EPS signed for up to four units at Hengli, priced at about $90m each, marking its return to ordering in the segment after a pause.

The strategy points to a more balanced crude tanker portfolio, after a period where EPS leaned heavily into aframax tonnage and expanded its presence in the product tankers segment.

Recent ordering activity shows the suezmax segment remains active, with Greece’s Venergy Maritime also securing a pair of 157,000 dwt tankers at GSI, while Swiss Maritime Capital has contracted DH Shipbuilding for two similar-sized crude carriers, each priced at around $90m.

Source:Splash247.com