Al Seer Marine has taken delivery of the M.T. Saiph and her sister ship from K Shipbuilding in Korea, marking the arrival of the second pair in a series of six state-of-the-art newbuilding MR tankers.
Each vessel is equipped with an advanced Exhaust Gas Cleaning System (EGCS) and is engineered to accommodate alternative fuels, including Liquefied Natural Gas (LNG), ammonia, and methanol, ensuring a more sustainable and eco-friendly operation.
These advanced features also position the vessels to meet the growing global demand for clean petroleum products (CPP) and chemical transportation.
The delivery is financed by BOCOM Financial Leasing Co., Ltd. (BOCOM Leasing), a subsidiary of China’s Bank of Communications, securing $80 million—$40 million per vessel. This latest agreement strengthens Al Seer Marine’s partnership with BOCOM Leasing, first established in August 2024 with the $80 million financing of MR Tankers Betelgeuse and Bellatrix, bringing BOCOM’s total commitment to $160 million.
Guy Neivens CEO – Al Seer Marine
“At Al Seer Marine, we continue to invest strategically in product and chemical tankers, which represent one of the most promising sectors in the maritime industry. The expansion of our partnership with BOCOM Leasing, our first international financing partner, validates our growth trajectory and market potential. This aligns with our vision to become a global leader in meeting the surging demand for refined petroleum products and chemicals trade, a position increasingly recognized by financial markets and key investors.”
With a deadweight of 49,757 MT each, the two modern vessels are IMO II/III oil and chemical tankers carefully engineered to carry six fully segregated grades of cargo for optimal global operations.
The vessels’ dimensions and sophisticated design ensure versatile navigation capabilities and unrestricted access to major ports worldwide, including efficient passage through strategic maritime routes.
Both tankers have secured five-year time charters with Reliance Industries (Middle East) DMCC, valued at $42 million per vessel, joining their sister ships Betelgeuse and Bellatrix in the charter arrangement.
With the delivery of the two modern tankers, Al Seer Marine has just two vessels remaining from the six MR tankers ordered from K Shipbuilding, with completion expected in January 2025. The delivery of these final vessels is expected to further enhance Al Seer Marine’s commercial revenues.
