Guangzhou Shipyard International (GSI) has sealed an order worth nearly $150m from a joint venture between sister company CSSC Shipping and Singapore's IMC Industrial.

The venture ordered four 55,000-dwt chemical and product tankers at GSI, which is part of China State Shipbuilding Corp's CSSC Offshore & Marine. CSSC Shipping is also a subsidiary of the state-controlled shipbuilding group.

Shipbuilding sources familiar with the deal said the IMO type 2 quartet had been optional newbuildings that were attached to an order CSSC Shipping and IMC booked at the end of last year for four similar vessels.