Bihar International orders up to eight tankers at New Times Shipbuilding

Saudi Arabian owner Bihar International has placed orders at China’s New Times Shipbuilding for the construction of up to eight tankers.

According to shipbroking sources, the newbuilding contracts include firm orders for two 110,000 dwt tankers and two 50,000 dwt tankers plus options to order an additional two vessels for each ship type. All the vessels will be fitted with scrubbers.

The price for each 110,000 dwt ship and 50,000 dwt ship is $48m and $37m respectively, and deliveries are scheduled in 2021.

Bihar Shipping currently operates a fleet of 26 tankers and 34 offshore vessels.