Nissen Kaiun of Japan has splashed out $181m on four MR tanker newbuildings.
The low-profile shipowning company has contracted Hyundai Mipo Dockyard (HMD) to build four standard conventionally-fuelled 50,000-dwt product carriers.
Shipbuilding sources said Nissen Kaiun’s newbuilding deal at HMD brings its orderbook for MR tankers to eight.
