China Shipping says to pay .4 mln for vessels

HONG KONG, Apr 13 (Reuters) China Shipping Development Co. Ltd. said it would pay US.4 million for the construction of two oil tankers.

The shipping group said in a statement that each tanker will have 46,500 dead weight tons for transportation of oil and oil related products.

The company said it would fund the deal by bank borrowings and cash.

REUTERS DKS PM0519