Geneva-based Advantage Tankers has returned to South Korea’s Hanwha Ocean with a fresh order for another VLCC newbuilding as part of a growing strategic push into the larger tanker segment.
Industry sources report that the Tugrul Tokgoz-led company has declared an option for a third 320,000 dwt unit at the Okpo-based shipyard, bringing its overall newbuilding tally to 10 vessels, including four VLCCs. While the price of the latest newbuild has yet to be revealed, the two ships booked earlier in April are priced at around $129.7m apiece.
Established in 2014, the Nazli Williams-controlled player operates a diversified taker fleet of around 25 vessels, of which six in the VLCC space.
The newbuildings at Hanwha Ocean — formerly Daewoo Shipbuilding & Marine Engineering (DSME) — are scheduled for delivery in the second and third quarters of 2027, with one additional VLCC already under construction at Jiangsu Hantong Ship Heavy Industry in China and slated to join the fleet in late 2026.
The optional newbuild adds to a growing VLCC book at Hanwha Ocean, which earlier this year secured contracts from both its shipowning affiliate Hanwha Shipping and Greece’s Capital Maritime.
