Aegean Shipping Management, owned by Giorgos Melissanidis, son of Dimitris Melissanidis, has placed an order for two oil tankers with a capacity of 114,000 DWT each at Cosco Shipping Heavy Industry.

The exact price of the vessels was not disclosed by Aegean, but brokers estimate that it will pay over $63 million per ship for these newly built vessels. Cosco's shipyard in China is the preferred choice for Aegean, having ordered a total of 14 ships from there, including this latest pair.

Aegean already owns a fleet of 15 vessels, consisting of six kamsarmax bulk carriers, three MR tankers, and six aframax tankers, with an average age of only 3.8 years.