The company said on Monday that it was spending a total of $389.5m on the vessels, which are eco-designs to cut fuel bills.

Dalian Shipbuilding Industry will build two 319,000 dwt tankers for delivery in June 2016 and January 2017.

And Shanghai Waigaoqiao Shipbuilding will construct two 318,000-dwt VLCCs due in October 2016 and April 2017.

It already has five VLCCs coming from each shipyard from this year to 2017.