JO Tankers Orders Eight Vessels from NTS

JO Tankers has confirmed that the company placed its largest ever order for eight 33.000 dwt stainless-steel chemical tankers at China’s New Times Shipbuilding, with deliveries scheduled for 2016 and 2017.

The deal, estimated to be worth around $320 million, consists of firm and optional contracts. The new buildings will join Milestone Chemical Tankers – the jointly owned chartering and marketing arm of JO Tankers and Tokyo Marine.

The newbuildings will be built to the highest specification. The combination of modern design and modern engines will reduce the fuel consumption by 25% compared to other designs.

NTS has already constructed and delivered two LR1 tankers for JO Tankers.

JO Tankers will also take delivery of two more 33.000 tdw presently under construction at Mingde Heavy Industries, China. The “JO Lotus” – yard No 159 will be delivered next month and yard No 160 first half next year.

[mappress]

Press Release, November 11, 2013