China Merchants tanker arm targets Yangtze fleet renewal

China Merchants-controlled Nanjing Tanker is planning to invest up to RMB191.72m ($28.7m) in ten 4,000 dwt crude oil barges to upgrade its fleet serving refineries along the Yangtze River.

The Shanghai-listed owner has approved the investment through its subsidiary Nanjing Yangtze River Oil Transport Logistics, with Hunan Jinhang Shipbuilding selected to build the vessels.