As the number of newbuild tankers to be welcomed in 2025 swells, Swiss shipping player Advantage Tankers is gearing up to expand its fleet with a dual-fuel 319,000 dwt crude oil tanker and a dual fuel-ready 157,000 dwt Suezmax tanker trio.
It is understood that the 319,000 dwt newbuilding is currently under construction at China’s Jiangsu Hantong Ship Heavy Industry. The delivery date for the vessel, christened Advantage Visual, has been slated for the fourth quarter of 2026.
As disclosed, South Korean company Daehan Shipbuilding is building the three Suezmax units.
Named the Advantage Sierra, Advantage Smooth and Advantage Solo, the trio is expected for a handover during this year; namely, the former two are anticipated to be delivered during the second quarter of 2025, while Advantage Solo should be welcomed during the third quarter.
As per information from London-based data provider VesselsValue, Advantage Sierra and Advantage Smooth are part of an en bloc order placed in February 2023. Both of the vessels will reportedly be powered by liquefied natural gas (LNG) .
In addition to this, these newbuildings are believed to have been fitted with exhaust gas cleaning systems—otherwise known as scrubbers—which are used to remove harmful elements, such as sulfur oxide (SOx), from exhaust fumes.
On the other hand, Advantage Solo was booked in May 2023, VesselsValue data shows. As informed, much like its sister vessels, this unit will be powered by LNG. It has also been outfitted with scrubbers.
Over the recent period, product tankers have seen an uptick in deliveries. According to the world’s biggest shipping association BIMCO, newbuilding handovers are anticipated to jump to a staggering 12 million dwt in 2025, which represents a 256% jump in comparison to the 3.4 million dwt delivered last year.
What is more, Greek shipbroker Intermodal put this into perspective further, revealing that 179 product tankers exceeding 10,000 dwt are projected to enter service in 2025, compared to 49 ships delivered last year.
That said, among all the vessels waiting to be handed over in 2025, only 7% will be capable of using alternative fuels while 12% are reportedly being readied for an eventual retrofit.
Concerning the conversion of tankers to green fuels, in July last year, the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMCZCS) highlighted that this path was ‘feasible’ if done with meticulous planning of fleet transition and consideration of asset age.