Hong Kong’s Island Navigation has made a rare move in ordering a pair of MR tanker newbuildings, as it typically prefers secondhand acquisitions.
The tanker company has signed up for two conventional 50,000-dwt MR product carriers at South Korea's STX Offshore & Shipbuilding for delivery in 2021.
Industry sources familiar with Island Navigation said this is the first time the privately-owned company has ordered MR tanker newbuildings.
