China Ocean Shipping (Group) Company (COSCO) turned out to have inked a newbuilding contract with China Shipbuilding Industry Corporation (CSIC) for four Very Large Crude Carriers (VLCCs) on December 25.

According to industry sources, CSIC-affiliated Dalian Shipbuilding Industry Company (DSIC) signed a contract to build four 320,000 dwt VLCCs. With the latest deal, the Chinese builder is to build a total of six same-sized vessels for the owner.

Two units awarded late last year are slated for delivery in the upcoming year while the latest four will be delivered in 2016, valued at around $90m apiece.

Meanwhile, on December 23, China COSCO Holdings Company announced through a regulatory filing that it was planning to place an order for four 64,000 dwt Handysize bulkers and five 9,400 teu containerships to promote its core competitiveness through carrying out  restructurings in its containership and bulker fleets.