Greece’s Capital Group, controlled by Evangelos Marinakis, is preparing to launch a large, publicly traded, pure-play crude tanker company in a move that could reshape the listed tanker landscape.The new entity, Capital Tankers, is expected to list on Euronext Growth Oslo by mid-March.
Capital Tankers will focus exclusively on crude oil transportation, taking over vessels ordered by Capital Maritime & Trading. According to CEO Jerry Kalogiratos, the new company will operate what it describes as the youngest and most technologically advanced crude tanker fleet among public peers.
Upon completion of its newbuilding program, the fleet will comprise 30 vessels – including 12 VLCCs, 10 Suezmax tankers, and eight Aframax/LR2 vessels – with the majority being LNG dual-fuel capable or LNG-ready and fitted with scrubbers. Three vessels are already in operation, five are due for delivery within three months, and 22 additional tankers remain on order. The company also holds 13 fixed-price options valid through the end of 2026, along with a 10-year right of first refusal on additional tanker opportunities sourced through Capital Maritime.
The proceeds from the private placement will primarily fund the extensive newbuilding program. At launch, Capital Tankers is projected to have an equity valuation of approximately $13.4 billion, positioning it among the largest pure-play crude tanker operators globally.
The move represents a significant bet on the tanker cycle, with expectations that tightening regulations, enforcement measures targeting the so-called shadow fleet, and potential geopolitical stabilization could support long-term sector growth.
