Norwegian shipping company Champion Tankers has confirmed that it is exercising options for two additional medium-range (MR) product tankers at a Chinese shipyard, completing its latest series of newbuild orders and signaling confidence in continued demand for refined product transport.
The deal, industry sources say, was finalized this week and covers the last two vessels in a broader contract signed earlier this year. With these options taken, Champion Tankers will bring the total number of MR newbuilds under construction in China to six, consolidating its position in the highly competitive product tanker market.
The MR tankers, each with a deadweight capacity of around 50,000 tonnes, are being built to modern eco-design standards, featuring fuel-efficient engines, enhanced cargo flexibility, and compliance with the International Maritime Organization’s (IMO) latest emission norms. The deliveries are expected to begin in 2026 and continue through early 2027.
Industry analysts note that Champion’s decision to firm up the options reflects optimism about long-term tanker demand, driven by shifting global trade patterns, refinery expansions in Asia, and Europe’s ongoing recalibration of fuel imports.
“Product tankers remain a resilient segment, particularly as trade flows adapt to geopolitical realignments and environmental regulations,” said Erik Johansen, a maritime analyst based in Oslo. “By securing modern tonnage now, Champion Tankers is positioning itself strongly for the next cycle.”
Chinese shipyards, meanwhile, continue to capture a growing share of the MR newbuilding market, outpacing competitors in South Korea and Japan with aggressive pricing and faster delivery slots.
The expansion underscores Champion Tankers’ broader strategy of fleet renewal and environmental compliance. Sources close to the company say that the new vessels will be equipped with the option to use alternative fuels, such as methanol or biofuel blends, aligning with global decarbonisation targets.
With this order, Champion Tankers joins a wave of shipowners investing in energy-efficient product carriers to meet rising demand while reducing operating costs. The move is seen as a calculated bet on both regulatory pressure and steady trade volumes over the next decade.