Atlas Maritime and EMF hail new tanker delivery under $1B fleet renewal program

International shipping company Atlas Maritime and fund management company European Maritime Finance (EMF) have taken delivery of their eighth eco Aframax/LR2 tanker from South Korean shipbuilder Daehan Shipbuilding.

The newbuild is a 115,000 dwt scrubber-fitted LR2 tanker featuring Daehan’s latest “super eco” specifications.

It is a part of the $1 billion newbuilding program, which includes a series of 17 high-efficiency, low-emission vessels ordered by Atlas in partnership with EMF.

According to the companies, this is “one of the most ambitious privately backed fleet renewal initiatives in the global tanker sector”, focusing on next-generation tonnage aligned with tightening IMO regulations and rising charterer ESG expectations.

Atlas Maritime and EMF expect the remaining vessels in the program to be delivered on schedule through 2025 and 2026. Several tankers have already been delivered and are on long-term charters with energy companies.

“With this latest delivery, we continue to execute on our strategy of investing in modern, efficient tonnage that meets the evolving needs of the global energy industry,” said Leon Patitsas, CEO of Atlas Maritime.

“This vessel is a marvel of modern engineering and an embodiment of our commitment to operational excellence, environmental responsibility, and state of the art design. The Atlas specification reflects our rigorous standards, and Daehan continues to deliver with outstanding quality and precision.”

Martin Haugaard, Chairman of European Maritime Finance (Switzerland), added: “We are proud to see the eighth vessel in this important series delivered. This fleet expansion underlines our belief in long-term value creation, responsible capital deployment, and our trusted partnership with Atlas Maritime. Together with Daehan, we are delivering high-performance assets that meet the market’s future needs.”

Atlas Maritime and EMF also have three LPG/ammonia carriers on order at South Korean shipyard HD Hyundai Heavy Industries (HHI).

Valued at KRW 489.6 billion ($372 million), the order covers three 88,000 cubic meter LPG dual-fuel carriers capable of carrying and running on ammonia.

As disclosed, the vessels, to be named EMF Viking I, II, and III, are scheduled for delivery by the end of December 2027.