Falling newbuilding prices have reignited the Chinese VLCC national shipbuilding project, prompting another big order and raising fears that a post-2016 market recovery could be under threat.
Dalian Shipbuilding Industry Co (DSIC) has tied up VLCC contracts worth a potential $285m from a domestic company.
Industry sources say China Shipping Development Co (CSDC), the bulker and tanker arm of shipping giant China Shipping Group (CSG), has gone to the state-owned yard for a pair of 320,000-dwt tankers for delivery in early 2017.
