On October 28, Nanjing Tanker Corporation (NJTC) issued an announcement regarding board resolutions. The announcement approved proposals for the construction of four 115,000-dwt LR2 tankers and ten 4,000-dwt crude oil barges.
The announcement disclosed that Nanjing Petroleum Transportation (S) Pte. Ltd., a wholly-owned subsidiary of NJTC, will invest no more than 1.96 billion yuan (approximately $294 million) to commission Dalian Shipbuilding Industry Corporation (DSIC) to build four new 115,000 DWT energy-efficient LR2 oil tankers, with the construction cost of each vessel not exceeding 490 million yuan.
To be registered under the Hong Kong flag, the new vessels will be built to green and smart standards, meeting requirements such as the International Maritime Organization’s (IMO) Tier III emissions standards and Phase 3 of the IMO Energy Efficiency Design Index (EEDI), and will incorporate a design that allows for future conversion to methanol dual-fuel operation. Delivery is expected to take place between June and December 2029.
In addition, Nanjing Yangtze River Oil Transport Co., Ltd., a wholly-owned subsidiary of NJTC, has invested no more than 191.72 million yuan (including tax) to commission Hunan Jinhang Shipbuilding Co., Ltd. to build 10 new 4,000-metric-ton crude oil barges (equipped with cargo oil pumps), which are expected to be delivered in batches by the end of 2027.
Public records show that NJTC is a specialized oil tanker shipping company under China Merchants Group. Founded in 1993, it was listed on the A-share market in 1997 and is headquartered in Nanjing. Currently, NJTC owns and controls a total of 73 vessels, with a total deadweight tonnage of 2.78 million metric tons and an annual shipping capacity exceeding 44 million tons.