Shanghai Junzheng Shipping (SC Shipping) has lifted spending on stainless steel chemical tankers to $884m as it stacks its orderbook with more newbuildings.

China’s largest specialist chemical tanker company doubled its tally of stainless steel newbuildings to 20 after ordering up to 10 vessels of 25,900 dwt at state-owned Wuchang Shipbuilding Industry Group.

Shanghai-listed Junzheng Group — the parent of SC Shipping — said in a regulatory filing on 11 May that its shipping arm had ordered five firm vessels at Wuchang, with options for an additional five ships.