Metrostar Returns to Newbuilding Market with MR Tanker Pair at HD Hyundai Mipo

## Metrostar Books MR Tanker Duo at HD Hyundai Mipo Greek shipowner Metrostar Management has re-entered the medium range (MR) tanker newbuilding market, securing a contract for two product tankers at South Korean shipbuilder HD Hyundai Mipo, according to Splash247. The Theodore Angelopoulos-led company has ordered a pair of 50,000 dwt MR product tankers, with delivery expected in 2028. Market sources cited by Splash247 place the price at close to $53 million per vessel, putting the total order value at approximately $106 million. ### Market Context The order marks a notable return to the newbuilding arena for Metrostar, a well-established name in the Greek shipping community. HD Hyundai Mipo, a subsidiary of South Korea's HD Hyundai group, is one of the world's leading builders of MR product tankers and has remained a preferred yard for Greek owners seeking vessels in this segment. The $53 million per-unit price point reflects the sustained strength in tanker newbuilding prices, which have remained elevated compared to historical norms amid robust demand for product tanker tonnage and tight shipyard capacity across South Korean and Japanese yards. MR product tankers in the 50,000 dwt range are workhorses of the refined petroleum products trade, moving cargoes such as gasoline, jet fuel, and naphtha across key global trade routes. Demand for this vessel class has been underpinned by shifting refinery dynamics, including the growth of export-oriented refining capacity in the Middle East and Asia, which has extended average voyage lengths and supported freight rates. ### Delivery Timeline With delivery set for 2028, the vessels will enter a market that many analysts expect to remain fundamentally supported, given the limited orderbook relative to the existing fleet and ongoing fleet renewal requirements across the product tanker sector. Metrostar's move is consistent with a broader trend of Greek owners locking in newbuilding slots well in advance as shipyard berths become increasingly scarce through the mid-decade period. *Source: Splash247*