Island Oil acquires two tankers to support Mediterranean, Black Sea bunker fuel demand

International marine fuel trading firm Island Oil on Wednesday (8 July) announced the acquisition of two oil tankers, Island Polaris and Island Horizon, further expanding its fleet of owned tankers.

The acquisition forms part of Island Oil’s long-term investment strategy aimed at strengthening its logistics capabilities and supporting the growing demand for marine fuel transportation across the Mediterranean and Black Sea. 

By strengthening its fleet with high-quality double-hull tankers, the Company continues to invest in operational excellence while maintaining the highest standards of safety and environmental compliance.  Beyond its commercial rationale, the investment is fully aligned with the Group’s Environmental, Social, and Governance (ESG) strategy and its decarbonisation roadmap with new tonnage enhancing fuel efficiency and lowering greenhouse gas (GHG) emissions per tonne-mile.

Chrysostomos Papavassiliou, CEO & Chairman of the Board of Directors of Island Oil, said: “The acquisition of Island Polaris and Island Horizon represents another important step in the execution of our long-term growth strategy. Investing in modern, efficient vessels enables us to strengthen our operational capabilities, improve service reliability and continue supporting our customers with safe and dependable marine fuel solutions. 

“These additions also demonstrate our confidence in the future of the maritime sector and our commitment to delivering sustainable value to our stakeholders.”

The new vessels will support Island Oil’s expanding marine logistics operations, increasing transportation capacity while enhancing service reliability across the company’s network of physical supply locations and international trading activities. 

Photo credit: Island Oil
Published: 9 July, 2026