Atlas Maritime: Dynamic Return to Suezmax
Atlas Maritime is making a strong re-entry into the Suezmax market by ordering two new oil tankers from DH Shipbuilding in South Korea, with options for two more.
Atlas Maritime, owned by Leonidas Patitsas, is making a significant comeback to the Suezmax sector with the recent order of two new oil tankers from South Korean shipbuilder DH Shipbuilding, with options for two additional vessels. Each tanker is valued at approximately $86 million, and deliveries are scheduled for the third quarter of 2028. This move follows the successful resale of two under-construction Suezmax tankers to Okeanis Eco Tankers for about $97 million each, which was facilitated through a partnership with European Maritime Finance.
The first tanker from this latest series, named "Geneva Star," has already been delivered and chartered for one year, while the remaining seven Suezmax tankers are expected to join the fleet within the next 17 months. This strategic investment signifies a strong resurgence of Atlas Maritime in the Suezmax market, potentially positioning the company to capitalize on future market demands for oil transportation.
Given the current trends in the shipping industry and rising oil prices, Atlas's re-entry into the Suezmax segment not only highlights their ongoing business strategy but also reflects broader market dynamics that may favor larger tankers for global oil transportation. This development could have significant implications for the shipping market and Atlas Maritimeβs competitive stance moving forward.