BW Pacific has signed shipbuilding contracts with STX Offshore and Shipbuilding Co. Ltd. (STX) for four Long Range 1 (LR1) product tankers today, 11 December 2014.
The agreement with STX includes options for additional vessels.
The four firm newbuildings will be delivered in late 2016 and early 2017 and form part of the company’s fleet renewal program.
Andreas Sohmen-Pao, Chairman BW Pacific , said: “BW Pacific looks forward to receiving high quality and technologically advanced newbuildings from STX Offshore and Shipbuilding. By renewing our current fleet with well-built vessels, BW Pacific will continue to strive for outstanding service to customers. We have strong ambitions in the product tanker segment and these vessels will continue our steady growth in the sector.”
The newbuildings will bring BW Pacific’s product tanker fleet size to 43.
BW Pacific is a joint venture between BW Group and PAG.