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Atlas Maritime: Investing in two suezmax to be built in South Korea

The two ships are expected to be named Tromso Star and Arctic Star

Atlas Maritime expands its newbuild investment program, having agreed to build two more tankers in South Korea.

More specifically, the Greek shipping company signed a contract for two suezmax (with a capacity of approximately 157,000 dwt each) with the South Korean shipyard Daehan. The two ships are expected to be named Tromso Star and Arctic Star.

Although the price of the agreement was not disclosed, shipping sources told “Naftemporiki” that the cost of building a suezmax in South Korea is currently between 84-85 million dollars.

The new order increases Atlas Maritime’s orderbook to14 vessels, of which 10 are tankers (six suezmaxes + four LR2 tankers) and four car carriers. The company’s existing fleet consists of one aframax tanker.

According to the shipping company’s website, the newly built tankers will be particularly efficient in fuel consumption, meeting all the latest regulatory requirements, as they will be equipped with a “super eco” engine, and they will also have scrubbers.

Also, after conversions, the tankers will be able to burn liquefied natural gas, through dual fuel engines (dual fuel LNG ready). Atlas Maritime estimates that the delivery of the ships will coincide with a strong recovery in the global economy and demand for oil.

The company will deliver the newbuilds from November 2024 until 2026.