Shandong Shipping has ordered eight 50,000-dwt IMO II MR tankers and four 82,000-dwt kamsarmax bulkers at two separate shipyards in China.
Privately-owned New Times Shipbuilding will build the MR tankers while state-owned Cosco Shipping Heavy Industry will build the kamsarmaxes.
Shandong has ordered the newbuildings against medium-term charters from Shell and US grain trader Bunge.
