Greece’s Pantheon Tankers is poised to expand its fleet with two aframax tanker newbuildings.

Shipbuilding players say the Athens-based shipowner has signed a letter of intent for a pair of 114,000-dwt crude carriers at Hanjin Heavy Industries & Construction (HHIC)’s Subic Bay yard in the Philippines.

The price tag is said to be between $42.5m and $43.5m each. Delivery is scheduled for the end of 2019.