Greece’s Pantheon Tankers is said to have made a surprise move in the shipbuilding market by making a splash in the LR2 product tanker segment.

Athens-based Pantheon is the latest company to have joined the crush for LR2 newbuildings at Chinese yards as the ship type looks set to continue to benefit from sanctions on Russian oil and a wider trend for long-haul trades.

Maran Tankers, Zodiac Maritime, Eastern Pacific Shipping, Union Maritime, Tai Chong Cheang Group, Dynacom Tankers Management, Thenamaris and Capital Maritime & Trading are among shipping names joining the dash to ink aframax contracts this year.