Wah Kwong Maritime Transport Holdings is to step up its presence in the VLCC sector with its first newbuilding contract for nearly a decade.
The Sabrina Chao-led company has joined forces with CSIC Leasing to order two 307,000-dwt crude tankers at Dalian Shipbuilding Industry Co (DSIC). The deal does not include any options.
Wah Kwong confirmed the joint venture with CSIC Leasing, with the VLCC newbuildings part of the second strategic cooperation it has signed with the Chinese financing firm.
