BoComm Financial Leasing, the leasing arm of Bank of Communiciations, has entered into shipbuilding contracts with two CSSC yards for the contruction of a total of twelve 120,000 dwt LR2 tankers.
The 12 vessels will be equipped with LNG dual-fuel engines, with four of them to be built by Waigaoqiao Shipbuilding and the remaining eight by Guangzhou Shipyard International.
Construction of the vessels will start in the first half of 2021 and delivery will start in 2022. The total value of the contracts is RMB4.6bn ($650m).
The vessels will be chartered to Shell for 15 years under a charter contract signed by the two parties in March.
BoComm Leasing currently owns a fleet of over 180 vessels with another 22 on the orderbook.