Japanese owner Kyoei Tanker is expanding its VLCC fleet with a 310,000 newbuild ordered at Japan Marine United’s Ariake yard, with delivery slated for 2029. The Tokyo-based company confirmed the vessel will be acquired through a shared ownership structure, following board approval and final sign-off by partners late last year. Kyoei declined to disclose the contract price, citing confidentiality, but said the cost reflects current market levels. Funding will be covered through a mix of internal resources and bank financing. The vessel will be owned either directly by Kyoei or through a consolidated subsidiary in which the group holds a 70% stake. Kyoei said the investment is part of its wider fleet renewal strategy, aimed at maintaining long-term exposure to the crude tanker market. The owner currently counts six VLCCs, alongside two VLGCs, and has one bulker as well as one LPG carrier newbuild due for delivery in 2027. Its Singapore-based affiliate owns three LPG carriers, two bulkers and one MR tanker. Kyoei last ordered VLCCs in 2019, when it placed contracts at Namura Shipbuilding. JMU has also previously delivered VLCCs to the owner, with two ships handed over in 2018 and 2020. Japan Marine United was recently brought under the control of Imabari Shipbuilding, which now holds a 60% stake in the yard group. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsJapan