Magni Partners hammers deal for up to six new VLCCs

London-based Magni Partners has made a deal to order up to six VLCCs from New Times Shipbuilding in China.

The order comes following soon after one of the most famous names in Norwegian maritime Tor Olav Trøim said that Magni Partners, which is his private investment vehicle, would order VLCCs.

During a speech at Marine Money’s New York conference in June, Trøim told delegates why he felt now was the right time to get back into the tanker business after a 15-year absence.

He also told the attendees that he would be getting his feet “a little wet” with just two VLCC orders due to the incredibly low global orderbook.

The details of this little “dip” into VLCC waters were revealed by Allied Shipbroking in its weekly Shipping Market Report.

Namely, Magni Partners ordered two firm VLCCs from New Times Shipbuilding in China for around $138m per vessel.

The 320,000 dwt vessels were ordered this month and would be delivered from China in 2026 and 2027. In addition to the two firm VLCCs, the deal includes two options for two vessels each. If all options are exercised Magni Partners would order six newbuild vessels. Every newbuild will be LNG dual-fuelled.

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