China’s Nanjing Tanker is ordering a series of panamax tanker newbuildings worth $252m to boost the competitiveness of its fleet.
In a regulatory disclosure, the Shanghai-listed tanker company said it had received approval from board members to order four 65,000-dwt newbuildings.
Nanjing Tanker said it is ordering the panamax crude carriers to enhance the company’s fleet competitiveness and to improve the operation of its fleet.
“It further enhances the company’s sustainable development ability,” said Nanjing Tanker.
State-owned Guangzhou Shipyard International (GSI) will be contracted to build the quartet. The ships will cost CNY 1.817bn ($252m) or close to $63m each.
Nanjing Tanker said the design for the panamax tanker is newly developed and the newbuildings will be built to meet IMO Tier III emission requirements.
The tankers are methanol dual-fuel ready and will be equipped with a bow thruster unit.
GSI is scheduled to deliver the quartet between 2027 and 2028.
The order for the series of 65,000-dwt tankers will be the third newbuilding deal for Nanjing Tanker.
In September, its wholly owned subsidiary Nanjing Oil Shipping in Singapore commissioned GSI to build four 50,000-dwt product carriers.
The MR tanker newbuildings will be built to meet the EEDI Tier III standards, cost around $45.7m apiece.
It is scheduled to take delivery of them in 2027.
Nanjing Tanker subsidiary Nanjing Yangyang Chemical Shipping also ordered one newbuilding three months ago.
It commissioned China Merchants Jinling Shipyard Yangzhou (CMJL Yangzhou) to build one 18,000-dwt chemical tanker newbuilding for delivery in 2027.
It has ordered the single newbuilding to optimise its chemical fleet capacity structure and improve the fleet operation capacity.
The contract price for the 18,000-dwt chemical carrier was reported to be CNY 246.5m ($34.7m).
A unit under the China Merchants Group, Nanjing Tanker is engaged in the transportation of crude oil, refined oil, chemicals and gas.
It controls slightly 74 vessels with a capacity of 2.81-dwt with an annual transportation capacity of over 44m tonnes.
