Nanjing Tanker orders four LR2 product tankers, boosts fleet size

Nanjing Tanker, a subsidiary of China Merchants, has announced the launch of a tender for the construction of four LR2 product/crude carriers, marking a significant expansion in its product tanker fleet. According to Splash 247, the order could potentially triple the company's newbuilding exposure in the LR2 segment, increasing its existing two-ship order to six LR2 tankers. The tender is inviting bids from shipyards to construct the LR2 product/crude carriers, with submissions due by October 10, 2026.

Technical Specifications and Compliance

The tender calls for ships that comply with IMO Tier III emissions standards and EEDI phase three requirements. The exact price, delivery schedule, and propulsion arrangement have yet to be specified. This development aligns with Nanjing Tanker's broader fleet renewal program, which includes the addition of smaller MR product/chemical tankers and specialist chemical and gas tonnage.

Existing Fleet and Newbuilds

Nanjing Tanker already has two 115,000 dwt LR2 tankers under construction at Dalian Shipbuilding Industry Corporation, with a delivery timeline of October 2028. The company operated 73 ships totalling about 2.8 million deadweight tons (dwt) at the end of June 2026, including 34 product tankers. The company’s push into larger product tonnage comes alongside a broader fleet renewal program, as reported by Splash 247 in July 2026.

In July 2026, Nanjing Tanker approved the construction of four additional 50,000 dwt MR product/chemical tankers at Guangzhou Shipyard International, with deliveries across 2028 and 2029, at a cost of up to $182.8 million. The company's existing product fleet remains heavily weighted towards MR tonnage, making the proposed LR2 quartet a significant shift in scale.

Market and Operational Implications

The order of four LR2 tankers signals a strategic move by Nanjing Tanker to diversify its fleet and increase its competitiveness in the product tanker market. The LR2 class of tankers offers enhanced cargo capacity and a more efficient design compared to MR tankers, making it an attractive option for long-distance and high-volume transportation of crude and refined products.

For operators, the expansion into LR2 tankers means increased operational flexibility and potentially higher revenues from larger cargoes. However, it also brings challenges in terms of port infrastructure, crewing, and maintenance. The company's broader fleet renewal program, including the addition of smaller MR product/chemical tankers and specialist chemical and gas tonnage, indicates a comprehensive approach to modernizing its fleet and staying competitive in the global maritime market.

What this means for operators

The order of four LR2 product tankers by Nanjing Tanker signals a significant step towards diversification and fleet modernization. Operators and fleet managers should consider the potential benefits and challenges associated with LR2 tankers, including increased cargo capacity, more stringent regulatory requirements, and the need for specialized crew training. The company's broader fleet renewal program, which includes smaller MR product/chemical tankers and specialist chemical and gas tonnage, underscores the importance of a comprehensive approach to fleet management in an ever-evolving maritime industry.

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