Nanjing Tanker expands fleet with new ethylene carrier, crude oil tankers

Nanjing Tanker Corp.'s subsidiary, Shanghai Changshi Shipping Co. Ltd., will acquire a new 9,500 cubic meter ethylene carrier from connected party China Merchants Industry Holdings (Yangzhou) Dingheng Shipbuilding Co. Ltd. for CNY 365 million. The transaction, deemed a connected transaction, is expected to be delivered in the first half of 2028. The board approved this acquisition, with associated directors abstaining, confirming the strategic importance of optimizing the ethylene fleet and strengthening market leadership.

Additionally, Nanjing Tanker Corp. approved an investment of up to CNY 976.06 million for two new 65,000 DWT PANAMAX crude oil tankers from non-connected party Dalian Shipbuilding Industry Co. Ltd. These next-generation tankers, featuring IMO Tier III emission standards and methanol dual-fuel readiness, are scheduled for delivery in the second half of 2028.

These fleet expansions, approved by the board on September 23, 2025, aim to improve the company's overall operational capacity, enhance customer satisfaction, and reinforce its leading position in the crude oil and ethylene transportation markets. The transactions were priced based on fair market negotiations.