Copenhagen, Denmark | November 26, 2025 – European Maritime Finance (EMF), in partnership with Leon Patitsas-led Atlas Maritime Ltd., has announced the blockbuster sale of two Suezmax tanker newbuildings to Okeanis Eco Tankers (OET). The transaction, valued at a record-breaking $97 million per vessel, underscores the surging demand for high-specification, immediate-delivery tanker tonnage.
The two vessels, identified as the North Star and Viking Star, are currently under construction at the Daehan Shipbuilding Co. in South Korea. Both are 157,000 DWT crude oil tankers and are scheduled for delivery in January 2026.
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A “Future-Proof” Investment Strategy
The sale represents a significant win for the Blue Harmony III sub-fund (managed under EMF AIF-SIKAV), which holds a part-ownership stake in the vessels. The transaction highlights the success of the EMF/Atlas “Super Eco” program, which focused on ordering high-spec vessels during tighter market windows to capitalize on rising asset values.
Key Transaction Details:
- Vessels: North Star and Viking Star
- Total Value: $194 Million ($97M each)
- Buyer: Okeanis Eco Tankers Corp (OET)
- Expected Completion: Full delivery in January 2026
Technical & Bunkering Impact
For the bunkering and technical sectors, these vessels are notable for their high-end environmental configurations. Okeanis Eco Tankers, the buyer, is known for a strategy that emphasizes “future-proof” assets.
Vessel Features:
- Eco-Standard Design: Optimized for fuel efficiency and reduced carbon intensity.
- Scrubber-Fitted: Equipped with sulfur oxide (SOx) reduction systems, allowing for the continued use of high-sulfur fuel while meeting IMO 2020 requirements.
- Ballast Water Treatment: Fully compliant with the latest environmental performance standards.
- LNG-Ready Capability: As part of the wider series of eight Suezmaxes ordered by the EMF/Atlas partnership, these vessels are built to facilitate future conversion to dual-fuel LNG propulsion.
Suezmax Footprint
While the North Star and Viking Star have been divested at a profit, the EMF Blue Harmony III fund remains heavily active in the Suezmax sector. The fund has already taken delivery of two other Suezmaxes from the same series, both of which are currently operating on lucrative long-term charters to Tier-1 counterparties.
According to EMF, these vessels are part of a larger, eight-ship Suezmax series contracted at Daehan. By maintaining a pipeline of modern tonnage, the Atlas/EMF partnership has positioned itself as a leading provider of high-spec assets for the world’s largest oil majors and traders.
About the Players
- Atlas Maritime: A Greek powerhouse managing a diversified fleet of tankers and dry bulk vessels, known for its “disciplined investment approach” and seafaring-heavy management team.
- European Maritime Finance (EMF): A Danish-headquartered investment firm that acts as a bridge between capital and sustainable maritime assets.
- Okeanis Eco Tankers: A prominent tanker owner-operator focusing exclusively on high-specification, ECO-class vessels with superior technical performance.
Source: European Maritime Finance