Vietnam's VLCC Fleet Demonstrates Continuous Growth

The Vietnamese flag
Updated Published

Greece's Capital Maritime and Trading has recently completed the sale of the most recently built Very Large Crude Carrier (VLCC), now flying the Vietnamese flag.

Towards the end of the preceding year, Evangelos Marinakis surreptitiously divested a 14-year-old colossal ship, initially crafted by Universal and formerly known as Alexander the Great, now rebranded as Felix. VesselsValue identified Phuong Dong Petrol Transport as the acquiring entity.

Since 2020, Vietnam has secured ownership of four Very Large Crude Carriers (VLCCs). Viet My Petrol Transportation acquired two 2005-built giants previously owned by Greek companies Eastmed and Thenamaris. Another VLCC, a 2007-built tanker previously owned by Malaysian account AET, has been purchased by Sao Viet Petrol Transportation. The oldest vessel in this acquisition, a 2003-built ship, was sold by Pantheon Tankers and is now in the possession of Nhat Viet Transportation.

According to the Equasis shipping database, Phuong Dong Petrol Transport exhibited activity throughout the year 2023. The company expanded its fleet by acquiring various vessels, such as a liquefied petroleum gas (LPG) carrier constructed in 1994, a classic 21,200 deadweight tonnage (dwt) chemical tanker, two handysize vessels with capacities of 32,800 dwt each, built in 2001 and 2002, and the newest addition, an LR2 tanker with a capacity of 109,000 dwt, constructed in 2010.