Chinese shipbuilding veteran Ren Yuanlin is turning his investment house’s focus from property to shipowning, inking a string of tanker newbuildings worth close to $800m.

Yangzijiang Financial has teamed up with an unnamed UK-based shipowner to order four 50,000-dwt product/chemical tankers with IMO II classification at Penglai Zhongbai Jinglu Ship Industry.

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