Athens-based major gas carrier Naftomar has recently completed the acquisition of six modern product tankers from BP Shipping, rapidly positioning itself as a significant player in the product tanker market through this deal. This shipowner, which had almost no involvement in the tanker business before, has invested a total of approximately $400 million to acquire 13 tankers in less than a year and a half.
According to a report by TradeWinds in early June, Naftomar, owned by the Zein family, emerged victorious in a secretive and lengthy competition, purchasing the aforementioned vessels for $192 million. The batch includes five 46,000-dwt tankers built in 2017—British Cadet, British Captain, British Chief, British Officer, and British Engineer—as well as the British Sailor, built in 2016.
With the transaction officially confirmed, all vessels have been renamed and listed on Naftomar’s official website. Their new names are Astrolight, Pearl Light, Frank Light, Kokolight, Miami Light, and Panther Light.
This acquisition doubles the size of Naftomar’s fleet. Notably, just three years ago, the company was not involved in tanker management. As a shipowner currently operating and building about 20 gas carriers, Naftomar first expanded into the tanker business in November 2022, completing its first tanker acquisition in thirty years.
Over the following 30 months, through its newly established brand Naftomar Tankers, the company invested approximately $200 million to acquire four LR1s, two MR1s, and one MR2 tanker. Including the recent $192 million purchase from BP, the Zein family now owns a total of 13 product tankers.
The six modern tankers built by Hyundai Mipo Dockyard acquired from BP have become the youngest assets in Naftomar’s fleet, significantly differing from the older product tankers built between 2007 and 2013 that it previously acquired from Zodiac, Prime Marine, and Alberta Shipmanagement.
This transaction also makes Naftomar the most active secondhand tanker buyer in Greece this year. Another Greek company that has significantly entered the product tanker market this year is Stealth Maritime, a private firm under Harry Vafias, which has acquired four MR tankers during the same period.
