A selection of major Japanese owners have flooded in with VLCC orders worth more than $830m as part of a broad fleet-renewal effort.
Contracts for nine new tankers from five separate parties have been split between Mitsui Engineering & Shipbuilding (MES) and Japan Marine United (JMU), TradeWinds understands.
Kawasaki Kisen Kaisha (K Line), Meiji Shipping, Iino Kaiun, Nissen Kaiun and trading house Mitsui & Co have all turned to compatriot yards for new units at a time when currency movements have made prices in Japan more appealing.
