The Hong Kong-listed Guangzhou Shipyard International has leased a yard in Zhenjiang, Jiangsu province, as it looks to alleviate a logjam of orders. It is paying Rmb90m to rent the property in Runzhou Industrial Park in Zhenjiang for four years. ?

According to a company statement, the move is designed to improve its shipbuilding capacity and secure orders for handy-size tankers.

The 450,000 sq metre plot comes equipped with a dry dock and a berth. Some other shipbuilding equipment and infrastructure is in the process of being built.