In its Q1 financial report, the US-listed Greek owner revealed that it has agreed to acquire four scrubber-fitted 319,000-dwt VLCC newbuildings from an unrelated third party for an aggregate price of US$482.0M. The agreement also includes options for an additional two plus two VLCCs for future consideration, without any capital commitment at this stage.

The vessels are scheduled for delivery from an undisclosed shipyard during the second half of 2028.

Navios has already secured employment for the ships, with each vessel fixed on a firm charter of approximately five years at a net daily rate of US$47,763. The charterer also holds options for one additional year at a net daily rate of US$52,650.

Following the latest order, Navios’ newbuilding programme now totals 26 vessels, representing an investment of approximately US$2.1Bn.

Meanwhile, between February and May, the owner took delivery of five newbuilding vessels – four tankers and one container ship – all employed under long-term charter contracts.

Supported by newly secured charter agreements, Navios now has contracted revenue of US$4.1Bn extending through 2037.

Navios has also continued to divest older tonnage. The company recently sold five vessels with an average age of 17 years.

Its fleet currently comprises 173 vessels, including 65 bulk carriers, 57 tankers and 51 container ships, with an estimated value approaching US$10Bn.

‘New world order’

Navios chairwoman and chief executive Angeliki Frangou commented on the rapid pace of geopolitical developments, describing the emergence of a “new world order” in which trade is increasingly being used as an instrument of national policy.

Ms Frangou said national security considerations are becoming increasingly central to decision-making, with governments exerting greater control over strategic supply chains.

“The Iranian conflict underscores this shift,” she said.

She added that the conflict has also sharpened global awareness of the critical importance of the Strait of Hormuz, a vital artery for the transportation of essential commodities ranging from LNG and crude oil to refined products and fertilisers.

The major Greek owner expects the conflict to have lasting implications for global trade, as countries and companies seek to diversify supply routes towards safer regions.

“It is too early to assess the long-term impact, and we are monitoring developments closely,” she concluded.

Against a backdrop of heightened geopolitical uncertainty, which has historically supported shipping markets in the short term, Navios reported revenues of US$357M in Q1 2026, compared with US$304.1M in the corresponding period last year. Net income more than doubled to US$106.3M from US$41.7M in Q1 2025.