In a bold move to modernize its fleet and meet stringent environmental standards, Angola’s state-owned oil giant Sonangol has inked a $190 million deal with South Korea’s HD Hyundai Heavy Industries. The agreement includes two cutting-edge Suezmax tankers, marking another step in Sonangol’s ambitious expansion strategy.
A Greener Future on the High Seas
The new Suezmax tankers, each with a deadweight tonnage (dwt) of 158,000, are set to be delivered in 2027 and 2028. What sets these vessels apart is their eco-friendly design, featuring exhaust gas cleaning systems (EGCS), commonly known as scrubbers. These systems are engineered to slash sulfur oxide (SOx) emissions, ensuring compliance with the International Maritime Organization’s (IMO) strict environmental regulations.
This isn’t Sonangol’s first foray into sustainable shipping. The company has been steadily upgrading its fleet, which currently includes 17 tankers and five gas carriers. With two additional Suezmax tankers from HD Hyundai Samho set to join the fleet this year, Sonangol is positioning itself as a leader in environmentally conscious maritime operations.
A Decade of Strategic Investments
Since 2014, Sonangol has ordered a total of 10 Suezmax tankers from South Korean shipyards, showcasing its commitment to fleet modernization. One notable example is the 274-meter-long Sonangol Kulumbimbi, delivered in April 2023. This LNG-ready crude oil carrier was built by HD Hyundai Samho and represents the company’s forward-thinking approach to energy transportation.
The global crude oil tanker market has seen significant volatility in recent years, with new vessel deliveries hitting a 35-year low in 2024. According to BIMCO, only 17 crude oil tankers were delivered that year, a stark 74% drop compared to 2023. This contrasts sharply with the booming product tanker segment, which is expected to see a 256% surge in deliveries by 2025.
The Bigger Picture: A Shifting Maritime Landscape
The maritime industry is at a crossroads, with environmental regulations and market dynamics reshaping the future of shipping. Sonangol’s latest investment reflects a broader trend toward sustainability and efficiency. Meanwhile, the product tanker market is experiencing unprecedented growth, with 179 vessels exceeding 10,000 dwt expected to be delivered in 2025—a significant leap from the 49 ships handed over in 2024.
Notable deliveries include Greek shipping company Thenamaris’ 114,000 dwt Isabella, launched in February 2025, and a quartet of product/chemical tankers under construction at Hyundai Mipo Dockyard for an undisclosed African shipowner.
As Sonangol continues to expand its fleet, the company is not only addressing its operational needs but also setting a benchmark for sustainable shipping in the oil and gas industry.
