Nanjing Tanker Corporation plans to build two 320,000-dwt very large crude carriers (VLCCs) through its wholly-owned Hong Kong subsidiary, it revealed in a company filing.

The cost of construction of each VLCC will not exceed $100m.

Funds for the building of the two VLCCs will be provided by the Hong Kong subsidiary.

The two VLCCs are expected to be put into operations in the second half of 2012.

The shipbuilder is highly likely to be Chinese one.