Shandong Shipping is set to sign charters with Shell this week to build and own a series of up to 16 medium range tankers as part of a larger project for the oil company.
Brokers say the order, believed to span 10 firm ships and options for up to six more, will cost $36m and $37m per ship.
Shell will charter the tankers for seven years with options to extend at a rate of $16,500 per day, brokers say.
