Oslo-listed Bruton, backed by Tor Olav Trøim, has finalised contracts with New Times Shipbuilding in China for two scrubber-fitted Very Large Crude Carrier (VLCC) newbuildings, with options for an additional two vessels of the same design.
The agreements were signed through Bruton’s wholly owned subsidiary, Andes Tankers III. The firm VLCCs are scheduled for delivery between the fourth quarter of 2028 and the second quarter of 2029. Should the company exercise its options before 31 December 2025, the additional vessels would be delivered between the third and fourth quarters of 2029. All four ships include options to be LNG dual-fuel ready.
The deal follows a letter of intent announced earlier this month and marks Bruton’s continued push into the VLCC sector. To support its newbuilding programme, the company has raised $110 million through a private placement.
Trøim, who returned to the tanker market in 2023 after a 15-year hiatus, initially re-entered the segment with a $270 million order for two VLCCs. Subsequent orders under Andes Tankers have expanded his tanker portfolio further. If Bruton exercises all options, its VLCC fleet under construction would total eight vessels.