Centrofin Acquires 2026-Built MR Tanker in Resale Market as Greek Owner Balances Fleet Renewal and Expansion
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Greek shipping company Centrofin Management, led by Dimitris Procopiou, has acquired the 50,576-dwt MR tanker Psara, formerly named CC Tianjin, a 2026-built vessel originally ordered by Chinese owner Zhejiang Fuhua at Jiangsu SOHO Innovation and Technology Shipbuilding. The acquisition places Centrofin among the active participants in a buoyant tanker resale market where modern vessels are commanding premiums above current newbuilding prices, with Greek shipbrokers estimating resale values for modern MR tankers at approximately US$55 million against newbuilding prices of around US$52 million.
Resale Market Dynamics and Pricing Context
The tanker resale market has seen strong momentum across vessel sizes as owners seek prompt-delivery assets in conditions of firm charter market activity, with the availability of recently built vessels from Chinese orderbooks providing a supply of modern tonnage to buyers who cannot wait for newbuilding delivery slots. The premium of resale values over newbuilding prices reflects the commercial value of immediate availability, allowing buyers to deploy assets into a strong market without the two to three year lead time of a newbuilding contract. Centrofin chief executive Yiannis Procopiou indicated during the Capital Link forum at Posidonia that the company is pursuing both newbuilding investment and resale market opportunities in parallel, reflecting a dual-track approach to fleet development that allows the owner to secure prompt earnings while also building a modern long-term fleet through the orderbook.
Centrofin's Fleet Position and Expansion Strategy
The acquisition of Psara is consistent with a period of active fleet expansion at Centrofin across multiple vessel segments. The company currently operates three MR2 tankers, comprising two 2009-built vessels and one from 2018, giving the Psara acquisition the dual commercial function of adding modern capacity and advancing fleet renewal in the segment. Last year, Centrofin acquired a pair of modern LR2 tankers from Enesel in a deal valued at approximately US$143 million, broadening its tanker portfolio beyond the MR segment. On the newbuilding side, the company has four Suezmax tankers under construction in South Korea for delivery through 2028 and eight Kamsarmax bulk carriers on order in China scheduled for delivery this year, building toward a significantly larger and more modern fleet across both the tanker and dry bulk sectors. The company's active fleet currently stands at 43 vessels.
Greek Owner Appetite for MR Tankers
The Centrofin acquisition reflects a broader pattern of Greek owner interest in the MR tanker segment. Metrostar Management recently returned to the newbuilding market in the segment with an order at HD Hyundai, following similar moves by Thenamaris and Pleiades Shipping Agents, demonstrating consistent demand from Greek shipping groups for MR exposure across both newbuilding and resale channels. The MR segment has attracted sustained interest because of its combination of diversified trading flexibility across clean and dirty product cargoes, access to a wide range of regional markets, and a demand profile supported by refinery configuration changes and shifting energy trade patterns that have increased tonne-mile demand for product tankers across multiple trading routes.
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This article was contributed by an external writer affiliated with our publication.
