20 Feb 2026by Georgios Georgiou
The Moundreas family-led NGM Energy has reportedly entered the buoyant secondhand crude tanker market, acquiring a mid-age Suezmax
Shipping databases list the Greek shipping company as the new owner of 2010-built, 156,527-dwt Advantage Summer. Brokers indicated late last year that the Chinese-built vessel, previously owned by Switzerland-based Advantage Tankers, changed hands for slightly above US$40M.
NGM oversees a diversified fleet of bulk carriers and tankers and has been active in the sale and purchase arena in recent months, particularly in dry bulk.
According to Equasis, 2020-built Kamsarmax bulk carrier, NGM Legend, formerly known as Aom Sophie II, represents the group’s latest acquisition, having joined the fleet last year.
Growing appetite for Suezmaxes
Demand for both newbuilding and secondhand Suezmax tonnage has strengthened markedly in recent months, with Greek owners at the forefront of the activity.
In its latest weekly report, Allied Shipbroking noted that 10 Suezmaxes changed hands in January 2026 at an average age of seven years, representing total invested capital of US$524M. Greek buyers accounted for six of the transactions, committing more than US$437M.
Asset values have also firmed. Allied data show that secondhand Suezmax prices across all age brackets have increased by up to 8% over the past month and nearly 13% in the last six months.
Market momentum continued this week, with brokers reporting that a major Greek owner acquired a modern Suezmax pair built in 2022 for an en bloc price of US$176M.
Another Greek company is said to have secured a 2013-built unit for around US$57M, while an undisclosed buyer reportedly picked up a 2003-built vessel for US$25M.
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