Meiji Shipping books MR tanker pair at Hyundai Mipo

Japanese owner Meiji Shipping has exercised an option at South Korea’s Hyundai Mipo Dockyard for the construction of two 50,000 dwt MR tankers.

The two vessels will add to the company’s existing order of eight 50,000 dwt tankers at the yard.

According to shipbroking sources, the two vessels will be fitted with scrubbers and delivery is scheduled in 2020. The price for each vessel is $38m.

Low profile Meiji Shipping, whose origins date back to 1911, is currently undergoing a massive fleet expansion program. According to VesselsValue, the company currently owns a fleet of 45 vessels with another 17 newbuildings on order, made up of bulkers, tankers, LPG and vehicle carriers.

The company aims to expand its fleet size to at least 200 vessels including both owned and chartered tonnage by 2020, which could potentially place the company within the top eight owners in Japan.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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