Sweden's tanker shipping company Stena Bulk has decided not to exercise an option to order two MR tankers at CSSC Offshore & Marine Engineering (CSSC OME) in Guangzhou.

The company spokesperson said that the decision was made following a conclusion that the current number of ships was enough for the company's needs and thus, the tanker owner did not require any further fleet capacity.

"At this stage we are satisfied with the numbers of IMOIIMAX tankers for our coverage WW. This is something we continuously evaluate, and for time being this is where we stand. The number of ships is based on our market evaluation about what we do in our systems, and we did in 2015 evaluate that to be around 13 ships," the company said.

Stena Bulk placed an order for three 50,000dwt IMOIIMAX MR tankers with the CSSC OME in November 2015, with an option for further two vessels.

The total value of the order was priced at US$200m.

This option was valid until the end of 2015.