Chinese bulker owner Yangpu Zhongxin Shipping is stepping further into the tanker sector with a newbuilding deal worth close to $350m.

The Hainan-based outfit has contracted Yangzhou Ryuwa Shipbuilding for up to five 114,000 dwt LR2 product carriers, in a deal understood to include three firm ships with options for two more.

The yard confirmed a contract covering five vessels, valued at around CNY2bn, marking the largest order by tonnage in its history.

The ships will measure about 249 m in length and 44 m in width, and are designed as next-generation, fuel-efficient tankers with ice-class capability.

The move signals a continued shift for Yangpu Zhongxin, which has so far been a small bulker owner with three vessels of about 51,000 dwt.

The company first entered the tanker segment in late 2024, ordering two MR product carriers at Jiangsu Dayang Offshore Equipment, with deliveries due between 2026 and 2027.