Greek ship management company Aegean Shipping Management has increased its tanker order at China’s Hengli Heavy Industries to five vessels, comprising three LR2 tankers and two very large crude carriers (VLCCs).

According to Aegean Shipping Management, including vessels under construction, its fleet has reached 2.5 million deadweight tons (DWT).

Controlled by Giorgos Melissanidis, Aegean Shipping Management is carrying out fleet renewal through a combination of investment in newbuildings and the sale of existing tankers, maintaining an average fleet age of under three years.

In 2026, Aegean Shipping Management concluded multiple vessel sale transactions: in September, it sold the LR2 tanker Green Adventure, built in 2022 by COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd., for approximately US$83 million; in early March, it sold the 112,600-DWT, 2018-built Aframax tanker Green Attitude for US$71 million.

Currently, Aegean Shipping Management’s orderbook under construction at Hengli Heavy Industries includes three LR2 tankers (capable of carrying crude oil and petroleum products) plus two VLCCs; each VLCC can carry up to 2 million barrels of crude oil. Aegean Shipping’s investment plan focuses solely on newbuilding.

In late July, Aegean Shipping Management took delivery of the LR2 tanker Green Liberty from COSCO Shipping Heavy Industry (Yangzhou) Co., Ltd. The vessel is the first of four tankers scheduled for delivery and entry into service in the coming months.

At present, Aegean Shipping Management’s current fleet consists of tankers and bulk carriers, totaling 21 vessels.