Greek owner Brave Maritime has been tied to a new deal for product tanker newbuilds in South Korea. Shipbroking sources report the Harry Vafias-backed outfit has booked a pair of 52,000 dwt vessels at Hyundai Mipo Dockyard, taking its MR orderbook to four. The first order at the yard in Ulsan reported by Splash earlier this year came in at about $108m or $54m each. Meanwhile, brokers have placed a $52.5m apiece price tag for the latest newbuilds, with delivery set for 2027. The Vafias Group, which has mostly focused on the mid-sized gas sector and secondhand bulker deals in recent years, has seen several LPG carriers delivered from Hyundai Mipo. Figures from international shipping association BIMCO show newbuild product tanker ordering for vessels larger than 10,000 dwt at the highest level since 2006, with around 200 units contracted year to date. Meanwhile, the MR segment is also facing an increasing age profile, where a substantial number of tankers are set to cross the 20-year mark. According to UK shipbroker Gibson, MRs between 15 and 19 years old account for about 30% of the existing fleet. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsGreece