Cape Shipping announces its return to the tanker market with a new fleet of 10 vessels, primarily newbuilds, after years in bulk and container shipping.
Greek owner Cape Shipping has announced its return to the tanker sector, unveiling a new fleet of 10 vessels, primarily consisting of newbuilds, after years of focusing on bulk carriers and containerships, according to London's Riviera Maritime Media.
The Andrianopoulos family-led company updated its website to showcase the tankers, which are either delivered or currently under construction, all built at Chinese shipyards. Riviera previously reported the delivery of the first tanker in September, marking the beginning of this expansion.
The investment program includes two MR tankers, four Aframaxes, two Suezmaxes, and two LR1s. The MR pair, scheduled for delivery in 2024 and 2025, was acquired through a resale deal with Evalend Shipping, while the remaining eight vessels were ordered directly by Cape Shipping between 2023 and 2024.
Two Aframaxes are set for delivery this year from Shanghai Waigaoqiao Shipbuilding, part of CSSC, with another pair expected in 2026 from CSSC's Dalian Shipbuilding Industry Co. The two Suezmaxes are also scheduled for delivery in 2026 from SWS, while the LR1 duo is anticipated in 2027 from Yangzijiang Shipbuilding.
Founded in Athens in 1987, Cape Shipping has traditionally specialized in dry bulk shipping before diversifying into containerships. Its current fleet comprises seven bulk carriers built between 2006 and 2012, along with seven container vessels delivered between 2015 and 2021.
The company is also linked to an order for two 3,100-TEU containerships at China's New Dayang Shipbuilding, with deliveries expected in Q2 2028. Meanwhile, Cape Shipping has been divesting its container vessels, with CMA CGM among the primary buyers.
