$150 million tanker order buoys GSI

China State Shipbuilding Corporation (CSSC) and Singapore's IMC Industrial have exercised an option for four more tankers to be constructed at Chinese shipbuilder Guangzhou Shipyard International (GSI).

The shipbuilder will construct and deliver the tankers in 2020 and 2021.

The joint venture between CSSC Shipping and Singapore's IMC Industrial is reportedly paying about US$37 million for each of the 55,000DWT option units.