Shipping Corp of India (SCI) has reportedly opted for Jiangsu Rongsheng Heavy Industries to build four VLCCs.
The Chinese yard came in with the lowest bid at $106.7m per ship, giving a total of $426.8m, according to sources cited by the Livemint website.
The 318,000-dwt vessels will come with two options.
SCI is not commenting, but is expected to confirm the deal to its board on Wednesday.
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