Greek shipowner George Economou’s recent spending on tanker newbuildings has reached nearly $600m as he has added two aframax product carriers to his orderbook.

Shipbuilding sources said Economou’s TMS Tankers has inked a newbuilding contract for two 115,000-dwt LR2 tankers at New Times Shipbuilding in China.

The deal is the second newbuilding contract that the Greek shipowner has penned at the privately owned Chinese shipyard this year.