Sumatec buying two new tankers

Sumatec Resources Bhd unit, Semua Shipping, is buying two new 8,000 dwt oil tankers from Yangzhou Kejin Shipyard and Jiangsu Guotai International Group for $12 million each as part of its marine transportation fleet expansion plan.

The Malaysian shipping company said the vessels would be used to perform contract petroleum products shipment works for the major oil companies. The first vessel is to be delivered in February 2009 with the second in May 2009.