Odfjell Group has reached an agreement to acquire four 40,000 DWT stainless steel tankers to be constructed at Kitanihon Shipbuilding in Japan.
Scheduled for delivery between January 1, 2027 and June 30, 2029, the ships will be purchased from a Japanese shipowner upon completion.
The total value of the transaction is approximately $290 million and involves the purchase of the ships upon their final completion. Following industry standards, payment terms include instalments during construction and the remaining balance due at delivery, the company noted.
Following the recycling of three specialised chemical tankers since April 1, 2025, the company said the investment continues its fleet renewal programme. The firm also recently divested a contract for a 26,000 DWT vessel currently under construction in China.
Odfjell claimed the incoming tankers will feature an annual efficiency ratio roughly 25 per cent lower than existing vessels in the fleet of the company.
Harald Fotland, Chief Executive Officer of Odfjell noted the design includes sails and a gate rudder to assist with operational efficiency. "With a modern design and equipped with sails, gate rudder and other novel energy-saving technologies, they set a new standard for fuel efficiency," he remarked.