China Shipping orders Suezmax quartet

State-owned China Shipping?s dedicated oil transport arm is close to announcing a $290 million deal for four Suezmax crude tankers from Bohai Shipbuilding Heavy Industry according to a source at shipbroker Simpson Spence and Young. This contract will be the shipbuilder?s first for a 150,000DWT class of vessel and all four units are expected to be delivered by 2008.