Bruton Limited has finalized newbuilding contracts with New Times Shipbuilding Co. Ltd. (NTS) for additional firm and optional VLCC newbuildings.
The company said the deal was concluded through its wholly owned subsidiary Andes Tankers III Ltd.
Specifically, Andes Tankers III, its subsidiaries and NTS have now entered into final newbuilding contracts with respect to the firm vessels and option agreements with respect to the optional vessels.
To remind, the latest deal follows a letter of intent announced earlier this month between New Times Shipbuilding Co. Ltd. and Andes Tankers III Ltd., pursuant to which Andes Tankers III orders two new scrubber fitted VLCC vessels.
In addition, the company has options for two additional VLCC vessels at the same price subject to Andes Tankers III declaring the option before 31 December 2025.
The firm vessels are scheduled for deliveries between the fourth quarter of 2028 and the second quarter of 2029, whilst the optional vessels, if declared, are scheduled for deliveries between the third and fourth quarter of 2029. All units carry the option to be converted to LNG dual fuel ready ships.
Bruton Limited is an industrial player incorporated in Bermuda and seeking to make strategic investments in the shipping, offshore and energy sectors, currently focusing on its VLCC newbuilding program.
