A Swiss-based trading company is said to have splashed about $180m on a series of MR tanker newbuildings in China.

Several shipbuilding sources said Global One Energy — the Geneva-based outfit also known as Gloen — has ordered four 50,000-dwt product tankers at Yangzijiang Shipbuilding to be delivered between 2026 and 2027.

The sources said Gloen was among several unnamed companies that ordered newbuildings at the Chinese shipyard between July and September this year.