Greater China

Tianjin Marine signs LOI for two VLCCs

Dalian: Tianjin Marine continues to diversify from its boxship origins. The company, whose controlling shareholder is the HNA Group, has signed a letter of intent with Dalian Shipbuilding Industry Co (DSIC) for the order of two 320,000dwt VLCCs, a brand new sector for the owner.

The two vessels are scheduled for delivery at the end of 2016 and early 2017.

The official contract will be signed in October.

More supertankers are likely to follow. Under a financial plan revealed last August, Tianjin Marine has plans to order a total of 10 VLCCs.

The news follows on from April’s announcement that Tianjin Marine had selected the same yard, DSIC, to make its first foray into LNG. Tianjin Marine has ordered four LNG ships at DSIC. [30/06/14]

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