Dalian Shipbuilding Industry Corporation (DSIC) has secured orders for a total of seven newbuildings from the compatriot China Cosco Group.

Namely, Cosco has through its tanker shipping arm Cosco Dalian ordered five 72,000dwt product tankers and two 319,000dwt Very Large Crude Carriers (VLCCs), the shipbuilder announced.

Neither the value of the deal nor the delivery dates of the eco-friendly units have been disclosed.

Market estimates show that the order could be worth a total of US$500m.

Cosco Dalian currently has fifteen VLCCs in its fleet and it is expected to take delivery of eight more being constructed at the moment at DSIC, Cosco Dalian Shipyard and CSSC Longxue Shipbuilding.