The Lim-controlled company has inked up to 20 chemical tankers at two Chinese yards in deals worth a total of around $360m.
Sources say Weihai Samjin Shipbuilding and Zhejiang Shenzhou Shipbuilding will each build four firm 11,000-dwt, IMO-2 newbuildings for delivery in 2017. Both deals include six options.
TradeWinds is told Ocean Tankers inked the orders at the end of 2015 to beat the deadline for nitrogen-oxides (NOx) Tier III-compliant engines.
The diversified owner has 82 ships ranging from small bunker vessels to VLCCs. Its fleet list shows 14 VLCCs, one suezmax, 14 aframax/long-range-two (LR2) tankers, six panamax/long-range-one (LR1) tankers, 22 medium-range (MR) tankers, four 16,000-dwt IMO-2 chemical tankers and 21 double-hull general purpose tankers.
“Ocean Tankers has a number of small coated tankers that were built in the 1990s that are due for renewal,” said one observer. “The current shipbuilding price is on the low side and now is the best time to renew one’s fleet.”
Ocean Tankers’ order is a big boost for once-bankrupt Weihai Samjin. The yard was bought by Zhejiang Xiaoke Holding, a subsidiary of Zhou Ji Group, at the end of last year and was officially back in operation early this year.
Zhejiang Shenzhou has experience building tankers below 10,000 dwt. Its customers include Thai Oil, Sinanju Tankers and Keoje Marine. The largest vessel it has delivered was a 20,500-dwt bulker for Chinese owner Rixin Shipping.
