Old VLCCs get unpopular in market Old VLCCs get unpopular in market

These vessels, commissioned from the Xiangyu shipyard in Nantong, China, are scheduled for delivery between 2026 and 2028. Notably, the tankers are designed with stainless steel tanks specifically for transporting chemical cargoes.

In a strategic move towards sustainability, GEFO has enhanced the design of these specialized tankers compared to their previous series.

The goal is to reduce fuel consumption and subsequently lower emissions. The company also emphasized the flexibility of the design, allowing for future environmentally friendly optimizations and the use of innovative fuels.

The expansion of GEFO's fleet with these newbuilds aims to replace older vessels reaching the maximum age limit of 20 years, a standard widely accepted by chemical shippers between 2028 and 2030.

GEFO currently operates a fleet of 150 tankers, including those for chemicals, gas, and mineral oil. These vessels navigate both the Rhine River and the ARA (Antwerp/Rotterdam/Amsterdam) chemical triangle.

This significant order is part of GEFO's ongoing investment program, totaling €400 million, focused on acquiring eco-friendly specialized tankers.

The company is on track to finalize this program in summer 2024, culminating in the delivery of the last newbuilding. Overall, the investment program involves the construction of 26 new vessels and the acquisition of 13 units of modern tonnage.