Greek shipowner JHI Steamship is in the final stages of concluding a contract with K Shipbuilding in South Korea for the construction of two 115,000 dwt aframax tankers, with an option for one additional vessel of the same size. The potential deal, worth $150 million for the firm pair and up to $225 million if the option is exercised, would be the company’s first newbuilding project in South Korea.

Shipbuilding industry sources said each ship is priced at around $75 million, with deliveries scheduled between late 2027 and 2028 once the agreement is signed.

Athens-based JHI Steamship, led by John Inglessis, was established earlier this year as the successor to Samos Steamship, a historic Greek shipping company with a 150-year legacy. JHI currently manages six ships and plans to expand its fleet to 13 vessels in the coming months, including several Japanese newbuildings due for delivery in 2026.

The Inglessis family recently restructured its shipping operations into two entities: JHI Steamship, headed by John Inglessis, and Carlova Maritime, managed by his cousin Anthony Inglessis. Earlier this year, Carlova Maritime ordered a VLCC at Hanwha Ocean in South Korea, marking a shift from the family’s long-standing preference for Japanese shipyards.