Cape Maritime Orders VLCC in Japan as Tanker Newbuilding Expands

Greek owner Cape Maritime Corporation has firmed up an order for a very large crude carrier at Japan Marine United, expanding its presence in a segment experiencing record contracting activity. The 301,000-deadweight-tonne vessel is scheduled for delivery in 2028 and brings the company's VLCC orderbook to three vessels. The order forms part of an ambitious tanker expansion strategy that has left the Adrianopoulos family-led group with 11 tankers in its fleet and five vessels still under construction.

 

Details of the Order

 

Cape Maritime has contracted a Japanese shipyard for its latest tanker. The Greek owner has commissioned Japan Marine United Corporation to build the vessel. The ship will have a capacity of 301,000 deadweight tonnes. It is scheduled for delivery in 2028 under the terms of the contract. Market sources indicated the order was finalised a couple of months ago.

The order strengthens the company's position in the crude carrier segment. Cape Maritime manages the group's tanker activities within the wider organisation. With this latest contract, it now has three very large crude carriers under construction. The other two vessels are being built by CSSC Qingdao Beihai in China. Those ships are scheduled for delivery by 2029.

 

Context of Record VLCC Ordering

 

The order arrives amid exceptional activity in the segment. Contracting for very large crude carriers during 2026 has reached an all-time record high. This surge has been driven partly by strong owner confidence in market fundamentals. Greek owners have been among the primary forces behind the wave of orders. They have secured nearly every available early delivery slot in the market.

Most of that activity has been concentrated at Chinese yards. Greek owners have focused on Chinese shipbuilders for early delivery positions. Japanese shipbuilders, however, continue to attract strong interest from the same owners. This interest is particularly evident in the tanker and bulk carrier segments. Cape Maritime's choice of a Japanese yard reflects this continued appeal.

 

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Cape Maritime's Tanker Strategy

 

The company has pursued aggressive growth in recent years. Cape Maritime has focused its expansion largely on newbuilding acquisitions. This strategy has built a substantial fleet in a relatively short period. The company currently lists 11 tankers across its active fleet. A further five vessels remain under construction at various yards.

Deliveries from this programme are now gathering pace. Earlier this week, the company took delivery of the Suezmax tanker Cape Armathia. The 158,000-deadweight-tonne vessel came from CSSC's Shanghai Waigaoqiao Shipbuilding. It was the second vessel of this size built at the yard for the company. The remaining orderbook consists of three VLCCs and two LR1 tankers at Yangzijiang Shipbuilding, with deliveries through 2027.

 

Activity Across the Wider Group

 

The group's expansion extends beyond tankers into other segments. Cape Shipping oversees the group's dry bulk and container vessel operations. This arm has also remained active in the newbuilding market. It has two Capesize bulk carriers on order at Hengli Heavy Industries. A further two 3,200-TEU container ships are under construction at New Dayang.

The existing fleet spans several vessel types and vintages. Cape Shipping's active fleet comprises six bulk carriers built between 2007 and 2012. It also operates seven container vessels constructed between 2015 and 2021. This diversified base gives the group exposure across multiple shipping markets. The parallel newbuilding programmes suggest continued growth across each segment.