China’s Nanjing Tanker has stepped back into the shipbuilding market for up to four newbuildings.

Industry sources said the China Merchants Group subsidiary is in contact with domestic shipyards for LR1 product tankers.

State-owned Guangzhou Shipyard International (GSI), Singapore-listed Yangzijiang Shipbuilding and privately owned New Times Shipbuilding are said to have been invited to bid for the newbuilding project.

A source familiar with Nanjing Tanker confirmed it would like to order the panamax-size tankers as part of its fleet-renewal and expansion programme.