Greece’s Cape Shipping is weighing a move into the VLCC segment, extending a rapid tanker expansion by the Andrianopoulos family after several years focused on dry bulk and container shipping.
Market sources say the Athens-based owner has tapped CSSC Qingdao Beihai for the construction of a scrubber-fitted 319,000 dwt crude carrier, with delivery pencilled in for the fourth quarter of 2028. Brokers have placed the price of the vessel at around $119m.
Greek shipbrokers have also linked Cape Shipping to a second VLCC newbuilding at Japan Marine United’s Tsu Shipyard. That vessel is reported to be a 300,000 dwt unit priced at about $127m, with a similar Q4 2028 delivery schedule.
If confirmed, the deals would mark Cape Shipping’s first step into the VLCC segment. CSSC yards have played a central role in the company’s tanker build-up to date, with most of its recent orders placed in China.
Cape Shipping recently confirmed its return to the tanker market, unveiling a 10-vessel fleet line-up, which includes two MR tankers, four aframaxes, two suezmaxes and two LR1 product tankers, either recently delivered or scheduled for delivery by 2027.
Alongside its tanker push, brokers and market sources have linked Cape Shipping to an order at China’s New Dayang Shipbuilding for two 3,100 teu boxships, with deliveries expected from the second quarter of 2028.
The outfit, founded in 1987, initially built its business in dry bulk before expanding into container shipping. In addition to Cape Shipping’s tanker fleet buildout, the company currently controls seven bulkers and seven containerships.
