Nissen Kaiun opts for Onomichi product tankers

Nissen Kaiun opts for Onomichi product tankers

The rapid fleet rejuvenation programme at Japanese shipping line Nissen Kaiun continues at pace with brokers reporting a product carrier order.

Nissen Kaiun, which unlike most of its peers is happy to order overseas, has come back home for its latest order, signing for a pair of 50,000 dwt product tankers at Onomichi Dockyard. The ships are priced by brokers at $35.6m each and they will deliver in 2020. The new vessels have been ordered on the back of long term charters to Chevron and both of them come with IMO NOx-II standards.

Nissen Kaiun has been a very active seller of older tonnage in the past 18 months, while also ordering a raft of new ships. Last month it ordered a similar product pair at Japan Marine United.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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