Adhart Shipping Secures Debut Tanker Order from New Dayang

Singapore’s Adhart Shipping has been identified as the owner behind a debut product tanker order with Chinese bulker builder New Dayang.

The subsidiary of state-run Sumec Group announced its entry into tanker shipbuilding in January by striking a deal for four MR units with an undisclosed owner. According to newbuilding sources, Adhart has committed to two firm orders along with two options for 50,000 dwt newbuilds, priced at approximately $43.5m each, scheduled for delivery in 2027 and 2028.

The commercial arm of the Executive Group of companies currently operates a fleet of 10 ships, which includes eight bulkers and a pair of South Korean-built MR tankers. Notably, shipbuilding databases indicate that the company has not placed any orders since its founding in 2007. The two tankers in its fleet were acquired from US owner International Seaways in 2022.