China Merchants Nanjing Tanker Approves Construction of 14 Vessels to Renew Its Fleet
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China Merchants Nanjing Tanker approved two newbuilding proposals totaling 14 new vessels: four 115,000-deadweight-ton (DWT) LR2 tankers and ten 4,000 DWT crude oil barges. The decision is part of the company's fleet renewal, optimization, and transition program toward low-carbon operations.
The LR2 Tankers
For the LR2 project, the company's Singapore subsidiary, Nanjing Tanker (Singapore) Pte. Ltd., will invest up to RMB 1.96 billion, with a maximum unit price of RMB 490 million per vessel. The ships will be built at Dalian Shipbuilding Industry Co., Ltd. (DSIC), will sail under the Hong Kong flag, and will comply with IMO Tier III standards and EEDI Phase III; according to CNSS News China, they will also feature a methanol dual-fuel-ready design. Deliveries will take place in stages between June and December 2029.
The River Barges
At the same time, the subsidiary dedicated to river logistics, identified as Nanjing Yangtze River Oil Transportation Logistics by Sea Trade Maritime and Splash 247, will invest up to RMB 191.72 million — equivalent to around US$28.7 million according to Splash 247 — in ten 4,000 DWT crude oil barges fitted with cargo pumps for self-discharging operations. The vessels will be built by Hunan Jinhang Shipbuilding and delivered in batches throughout 2027, aiming to meet demand from petrochemical customers and refineries along the Yangtze River.
Acquisition and Pending Approvals
The same set of announcements included China Merchants Nanjing Tanker's acquisition of 100% of Nanjing Changjiang Oil Transportation Logistics Co., Ltd. (Nanyou Logistics), a deal finalized on October 30 for a cash amount of RMB 684 million, according to CNSS News China. Both the LR2 project and the barge project were unanimously approved by the board of directors, but, according to Splash 247 and CNSS News China, both proposals still require shareholder approval before moving forward.
Current Fleet
Nanjing Tanker currently operates a combined fleet of 74 vessels, with annual cargo transport volume exceeding 44 million tons, according to Sea Trade Maritime and CNSS News China, while Splash 247 places the fleet at more than 70 vessels between crude and product tankers. The new LR2 tonnage will reinforce the company's international crude and product trade routes, replacing older, less efficient vessels.
