Capital Tankers Secures Newbuilding Finance Deals
- Is rapidly expanding its crude oil transportation fleet through a series of strategic acquisitions and newbuilding deliveries, leveraging a combination of public equity funding and structured debt facilities.
- The company has recently accelerated its operational footprint by taking delivery of several high-capacity tankers ahead of schedule.
- Further expanding its capacity, the company took delivery of the M/T Alexander on March 9, 2026.
Capital Tankers Corp. Is rapidly expanding its crude oil transportation fleet through a series of strategic acquisitions and newbuilding deliveries, leveraging a combination of public equity funding and structured debt facilities. The company’s growth strategy centers on the integration of super-eco vessels, which utilize the latest maritime technology to improve efficiency and reduce environmental impact.
The company has recently accelerated its operational footprint by taking delivery of several high-capacity tankers ahead of schedule. On March 5, 2026, Capital Tankers took delivery of the M/T Argeus I, a 155,352 DWT scrubber-fitted super-eco vessel built in 2025 by New Times SB. On the same date, the company added the newbuilding M/T Archigos, a 156,727 DWT scrubber-fitted super-eco vessel built in 2026 by Hyundai Samho Industries Co. Ltd in South Korea.
Further expanding its capacity, the company took delivery of the M/T Alexander on March 9, 2026. This vessel is an eco vessel with 113,170 DWT, originally built in 2018 by Hyundai Samho Industries Co. Ltd. On March 12, 2026, the company financed the M/T Aristotelis II, a 306,113 DWT scrubber-fitted super-eco vessel built in 2026 by Hengli Shipbuilding (Dalian) Co. Ltd in China.
Financing and Capital Structure
To support this aggressive fleet expansion, Capital Tankers has utilized a diverse range of financial instruments. The company completed a significant private placement in Oslo, which was oversubscribed. While the initial target was approximately US$345 million, the board of directors increased the offering size due to investor demand, eventually securing approximately US$500 million (NOK 4.8 billion).
The offering involved 35.7 million shares priced at NOK 134 per share, with over 900 investors participating. This transaction resulted in a post-financing equity valuation of approximately NOK 18.2 billion. The company also issued over 31 million new shares to raise approximately NOK 4.2 billion and utilized a greenshoe arrangement for additional shares.
The capital raised from the Oslo offering is primarily designated for the remaining expenditures on 22 oil tankers currently under construction, as well as for working capital and general corporate needs. Capital Tankers indicated that these funds may also be used to exercise additional vessel order options if market conditions are favorable.
In addition to equity, the company has secured specific loan facilities for individual vessel acquisitions:
- The M/T Archigos was partly financed via a new senior secured facility of $62.0 million. This loan is repayable in 20 equal quarterly installments of $0.9 million, with a final balloon payment of $45.0 million due in February 2031.
- The M/T Aristotelis II was financed through a $75.0 million drawdown on a new senior secured facility on March 12, 2026. This facility is repayable in 32 equal quarterly installments of $1.1 million, with a balloon payment of $39.8 million due in March 2034.
Market Position and Future Outlook
Capital Tankers, owned by Greek shipowner Capital Maritime & Trading, is positioning itself as a tech-forward operator by focusing on super-eco vessels. These ships are designed to meet stricter environmental standards and operate with higher fuel efficiency than traditional tankers.
The company’s listing strategy began with the Euronext Growth Oslo in March 2026. Following this, the company plans to apply for a listing on the Oslo Main Board and is considering a potential future listing in the United States.
As of February 25, 2026, Capital Tankers held 30 vessels at the time of listing, with an additional 13 newbuilding options granted by Capital Maritime & Trading Corp. (CMTC) at fixed prices, which remain exercisable until March 31.