This year to date, Chinese shipbuilder Nantong Mingde Heavy Industry Group has signed contracts with Monaco-based Celsius Shipping for building 10 units of 24,600DWT stainless steel chemical tankers, according to a domestic online shipping portal.

The newbuildings are expected to be delivered between 2016 and 2017.

As an investor in the construction of these vessels, Bayside Capital, a subsidiary of global investment company HIG Capital, appointed Celsius Shipping as the operator.

Celsius Shipping ordered 3 chemical tankers from the Chinese shipyard earlier this year. In April, the former placed an order for another 7.