Greater ChinaTankers

China VLCC ordering 10 VLCCs

China Merchants Energy Shipping (CMES) has announced today that the board has approved a plan for China VLCC, a tanker joint venture between CMES and Sinotrans & CSC, to order 10 VLCCs at three domestic yards.

CMES said the contract details will be announced at a later date.

China VLCC currently operates a fleet of 34 VLCCs, with an additional nine on order. In October, it sold VLCCs New Medal (297,600 dwt, built 2009) and New Founder (297,400 dwt, built 2008) to Greece’s Navios for $133m.

China Merchants Group, the parent company of CMES, is currently working on a takeover deal for Sinotrans & CSC.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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