China Merchants Energy Shipping (CMES) has ordered a MAN B&W 7G80ME-LGIM engine for a VLCC that is to be built by Dalian Shipbuilding Industry Co for delivery in April 2026.

Fortitude Shipping, a subsidiary Petredec, has placed an order of up to four ethane/ethylene-capable handysize vessels at Nantong CIMC Sinopacific Offshore & Engineering.

UK-based Purus Marine has placed an order for two very large ethane carriers (VLECs) at a price of $170 million each from HD Hyundai Heavy Industries in South Korea.

Stolt Tankers has inked an agreement with China’s Wuhu Shipyard to build six 38,000dwt stainless steel parcel tankers.

Newbuilding demand at Chinese shipbuilders has continued apace this year with the volume of newbuilding orders up 76.7% in the first nine months of 2023.

NYK, Stolt Tankers and ENEOS Ocean Corporation have formed a new chemical tanker pool in the Asia – Pacific region.

The Chennai-based Sanmar Group has opened a subsidiary company in Singapore—Sanmar Shipping SG Pte Ltd, to expand its global operations.

Greece’s Naftomar Shipping has placed an order with South Korea’s Hanwha Ocean, for 4 of the largest ammonia carriers yet to be built, worth $496 million.

Nasdaq-listed Capital Product Partners is shifting focus to LNG carriers with a $3.1 billion foray into the sector, while planning to exit containers.

The tanker stocks are benefiting from the action in product trades as the winter season looms driving demand.