Greek Delia Group Linked to Dual LR2 Tanker Order in Philippines

Greece’s Delia Group is reportedly strengthening its position in the global energy transport market through a strategic investment in new tonnage. Industry sources and shipbrokers indicate that the Vellis family-backed company has finalized a deal for two Long Range 2 (LR2) product tankers with HD Hyundai’s shipyard in the Philippines.

Strategic Expansion into the Tanker Segment

The rumored agreement involves the construction of two 115,000 dwt product carriers at the Subic facility. According to market analysts, the vessels are priced at approximately $76 million each. While an official confirmation from the owner or the shipyard is still pending, the delivery schedule is expected to span between late 2028 and 2029.

This move highlights the ongoing trend of Greek shipowners reinvesting in the tanker sector as demand for efficient and modern product carriers remains robust. By securing slots for 2028 and 2029, Delia Group is positioning itself to benefit from a market characterized by limited shipyard availability and evolving global trade routes.

A Diversified and Growing Portfolio

The Delia Group, though a relatively recent presence in the Greek shipping landscape, has rapidly developed a multi-sector fleet. The group operates through specialized divisions to manage its diverse assets. Their current operational profile includes:

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• Tankers: Currently managing two Aframaxes and one MR2 vessel.
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• Dry Bulk: Operating a fleet of two Kamsarmaxes and one Panamax.
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• Offshore: Maintaining three offshore support vessels (OSVs) on their books.
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Long-Term Market Outlook

The acquisition of LR2 tankers suggests a bullish outlook on the refined products market. LR2s are favored for their versatility, capable of carrying both crude oil and clean petroleum products across long-haul routes. As older tonnage faces stricter environmental regulations, these newbuilds from the Subic yard will likely feature modern efficiency standards, making the Delia Group’s fleet more competitive in an increasingly green maritime industry.

As the shipping industry watches for official confirmation, this deal underscores the continued appetite for high-spec tanker orders amidst a period of significant fleet renewal across the Aegean shipping community.