Sources say that despite SHI winning the bidding for a deal that includes four firm vessels, plus options for four more, pen has yet to meet paper on what would be the yard’s first VLCC contract for several years.

Whether SHI even builds the ships is also being debated, with market rumours suggesting at least two of the four firm tankers will be constructed at Jinhaiwan Shipyard, which like Tianjin Tianhai is part of the HNA Group.

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