Hong Kong owner Teying swaps VLCC flip for major LR2 ordering spree in China

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Hong Kong-based Teying Shipping has signed contracts for up to eight LR2 product and crude tankers at Chinese shipyards, marking a major fleet expansion following recent VLCC market gains. The order comprises four firm units with options for four additional vessels as part of its strategic growth.

Hong Kong-based owner Teying Shipping has moved from a recent profitable asset play in the VLCC market to a major fleet expansion programme, signing contracts for up to eight LR2 product and crude tankers at Chinese shipyards. The company has contracted four firm 115,000 dwt vessels, with options for another four units, in a programme …