Adhart linked to tanker quartet at New Dayang

Singapore’s Adhart Shipping has been named as the owner behind a debut product tanker order for Chinese bulker builder New Dayang.

The subsidiary of state-run machinery manufacturer Sumec Group announced its entry into tanker shipbuilding in January through a deal for four MR units with an undisclosed owner.

Newbuilding sources suggest Adhart booked two firm and two optional 50,000 dwt newbuilds at about $43.5m each for delivery in 2027 and 2028.

The commercial arm of the Executive Group of companies counts 10 ships in its fleet made up of eight bulkers and a pair of South Korean-built MR tankers.

According to shipbuilding databases, the company has not placed any orders since its establishment in 2007.

The two current tankers in the company’s fleet were acquired from US owner International Seaways in 2022.