Cosco Shipping Energy Transportation (CSET), the tanker arm of state-merged Cosco Shipping, is set to keep up the revival in tanker ordering with a $1bn expansion of its fleet.

CSET declines to comment on the prospective deal but sources familiar with its plans say it is aiming to order up to 18 newbuildings ranging from VLCCs to long-range-one (LR1) carriers at yards in China.