Dubai-based Emarat Maritime has added six 74,000 dwt LR1 product tankers to its newbuilding programme, with deliveries spread across 2029 and 2030, Splash247 reported. The company’s fleet register lists the vessels, while shipbuilding database records reviewed by the outlet identify Jiangsu New Hantong Ship Heavy Industry as the yard. Two ships are due in 2029 and four in 2030.
Contract prices have not been disclosed. Splash247 placed the potential value at around $330m using recent Chinese LR1 orders as a benchmark, rather than confirmed Emarat terms. Comparable business includes Evalend’s four 74,000 dwt vessels at Yangzijiang, priced at about $220m in total, and 73,500 dwt ships linked to Andriaki at New Times for $55.1m each.
The additions would triple Emarat’s LR1 fleet from its current three vessels. Those ships are Dubai Diamond and Dubai Gold, both built in 2007, and the 2005-built Dubai Green. The latest orders also bring the owner’s product tanker construction programme to 12 vessels, including six 114,000 dwt LR2s at Hengli Heavy Industries. One LR2 is scheduled for delivery in 2026 and the other five in 2027.
Splash247 previously identified Emarat as the owner behind the Hengli LR2 orders in November. Market sources cited by the outlet valued those vessels at approximately $71.5m each, or around $429m for the series. The Sharaf Group-backed company currently operates 19 ships, against a total newbuilding pipeline of 22 across product tankers, gas carriers and container feeders.
Beyond tankers, Emarat’s fleet register includes four 93,000 cu m very large ammonia carriers at Hengli, with two due in 2027 and two in 2028. Market reports put their prices at $105m-$110m apiece. The register also lists six feeder containerships, four for 2028 and two for 2029, following Splash247’s June report of three firm 930 teu orders and three options at Hubei Guangji Xinneng Shipbuilding.
The expansion coincides with firm secondhand LR1 prices. Splash247 reported that the 2016-built Bluebird and Starling had been sold to UAE interests for about $55m each, close to the price of some Chinese LR1 newbuilding contracts.