The Nanjing Tanker Company, which is commonly controlled by China, has recently launched a tender for the construction of four new LR2 tankers. This decision could increase the company's construction capacity from two tankers to six tankers and represents a significant shift in the larger product fleet sector.
Tender Details
The Nanjing Tanker Company, listed on the Shanghai Stock Exchange, has invited bids for the construction of four LR2 product/crude oil tankers. The deadline for submitting proposals is set for October 10, 2023. This tender also mentions compliance requirements with IMO Tier III greenhouse gas emission regulations and Phase 3 EEDI requirements.
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So far, details regarding the price, delivery time, or type of propulsion for these tankers have not been provided. This project is in the tender stage and is not yet considered a firm order for four tankers.
Background of Nanjing Tanker Fleet
Currently, the Nanjing Tanker Company has two LR2 tankers with a capacity of 115,000 dWT under construction at Dalian Shipbuilding Company. These two tankers were contracted in September 2025, with delivery expected by October 2028. The estimated price for each tanker is around $72 million to $74 million.
This initiative by Nanjing Tanker coincides with a comprehensive plan to modernize the company's fleet. In July, reports emerged that Nanjing Tanker had also approved four MR tankers with a capacity of 50,000 dWT at Guangzhou International Shipyard, costing $182.8 million, with deliveries scheduled for 2028 and 2029.
The company is also adding specialized vessels for transporting chemicals and gas. Earlier this year, Nanjing Tanker ordered three stainless steel chemical tankers with a capacity of 6,600 dWT, which adds to a program that previously included LR1s and main LR2 tankers.
By the end of June, Nanjing Tanker had a fleet of 73 vessels with a total capacity of approximately 2.8 million dWT, including 34 product tankers. The current fleet of the company is heavily tilted towards MR tankers, and the proposed four LR2 tankers could represent a significant shift in the scale of this fleet.
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