Splash247: Bruton firms up VLCC order at New Times Shipbuilding

Tor Olav Trøim-backed Bruton has finalised contracts with New Times Shipbuilding in China for two scrubber-fitted VLCC newbuildings, with options for two more of the same design.

The Oslo-listed company said the deal was concluded through its wholly owned subsidiary Andes Tankers III, which has now signed firm newbuilding agreements for the two vessels and option contracts for the additional pair.

The firm ships are scheduled for delivery between the fourth quarter of 2028 and the second quarter of 2029, while the optional vessels—if declared before 31 December 2025—would arrive between the third and fourth quarters of 2029. All units come with options to be LNG dual-fuel ready.

The latest deal follows a letter of intent announced earlier this month and comes as Bruton pushes deeper into the VLCC sector. The company has raised $110m through a private placement to support its growing newbuilding programme.

Trøim, who returned to the tanker market in 2023 after a 15-year break, first re-entered the segment with a $270m order for two VLCCs. That investment further expanded through Trøim-backed Andes Tankers with another two newbuilds. If Bruton exercises the new options, the company’s tanker fleet under construction would rise to eight VLCCs.