Formosa Plastics Marine Corporation (FPMC) is bolstering its product tanker fleet by commissioning four MR newbuilds from a Chinese shipyard.

The shipping unit of Taiwan’s Formosa Plastics Group has contracted CSSC Guangzhou Shipyard International (GSI) for the 50,000 dwt units, paying around $48m per vessel.

The tankers will, according to shipbuilding sources, be conventionally fuelled, with deliveries slated for 2028.

This new order marks FPMC’s return to GSI, following a previous deal in 2017 when the company commissioned a series of six 49,700 dwt chemical/product tankers.

Founded in 1980, FPMC operates a diversified fleet of over 40 ships, primarily tankers and bulk carriers. In addition to the latest MR tanker order, sources suggest that FPMC is actively exploring options for two VLCC newbuildings.