Xingtong Shipping lines up six chemical tanker newbuilds

Chinese chemical tanker player Xingtong Shipping has set out to expand its fleet with six stainless steel newbuilds.

The Shanghai-listed company said its subsidiary Xingtong Kaicheng Shipping would invest up to RMB1.4bn ($195.5m), excluding tax, in a pair of 25,900 dwt methanol dual-fuel vessels and four 13,000 dwt units.

The yard has yet to be named but Xingtong already has methanol 25,900 dwt newbuilds booked for construction at CSSC-affiliated chemical tanker specialist Wuchang Shipbuilding, which has bagged several newbuilding projects this year including up to 10 ships for Junzheng Group.

Set up in 1997, Xingtong controls a fleet of 43 vessels comprising chemical tankers, product oil tankers and LPG carriers. The company said it plans to deploy the latest newbuilds on international trades.