German KG (limited partnership) owner Ernst Jacob is set to embark on an extensive newbuilding programme in China that could be worth some $336m in total as the hot market encourages orders.
Sources say the owner is ordering up to eight wide-beam (38 metres) products tankers at Jiangsu Hantong Ship Heavy Industry.
The deal is for two firm ships and six options, all for delivery in 2017 and 2018.
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