China Merchants Energy Shipping (CMES) has ordered construction of a 319,000 DWT Very Large Crude Carrier (VLCC) from Dalian Shipbuilding Industry (DSIC).
According to a filing with Shanghai Stock Exchange, the vessel is slated for delivery in September 2017.
The price of the order has not been disclosed.
CMES has already nine VLCCs on order at Dalian, the most recent one being ordered in December.
Six more are being built by Shanghai Waigaoqiao.
The company has rebounded from 2013 losses amid improved oil tanker market and expects to reap USD 32.3 million of profit in 2014 financial year.
The company has invested strenuous efforts so as to renew its fleet which included disposal of outdated fleet units.