China Shipping Development orders four new tankers

The four newbuildings of 114,000 dwt each in capacity are scheduled for delivery from March to December 2017.

CSDC, the tanker and bulker arm of China Shipping Group, said there will be five progressive payments for each of the ships, split to 15%, 15%, 10%, 10% and a final 50%, based on the construction stage.

“Since 2013, CSDC has been pursuing fleet renewal by disposing of older tonnages and single-hull ships, while at the same time build new vessels to raise our operational competitiveness,” the company said.