UK owner Union Maritime has signed a newbuilding contract with Cosco Shipping Heavy Industry (CSHI) for the construction of up to four 113,000 dwt aframax tankers.
The contract is made up of a firm order of two vessels and options for two more.
The vessels will be built by CSHI’s Zhoushan yard and the first vessel is expected to be delivered before the end of 2020.
Union Maritime currently owns a fleet of 44 vessels comprising 41 tankers, one bulker and two OSVs. It also has three ultramax bulkers under construction at CSHI’s Yangzhou yard.