China Shipping Development Co (CSDC) has ordered four new VLCCs worth a total of $375.92m at Dalian Shipbuilding Industry Co (DSIC).

The four new 308,000 dwt oil tankers, each costing around $94m, are scheduled to be delivered between May 2017 to September 2018.

Meanwhile, the oil tanker and dry bulk shipowner has been disposing of older tonnages in an effort to renew its fleet. Last month, it sent 10 elderly bulkers to the scrapyard.