Hong Kong: China Merchants Energy Shipping (CMES) announced that its oil tanker jv with Sinotrans & CSC has completed registration in Hong Kong. The new company will be called China VLCC Company.
The company aims to operate China’s largest VLCC fleet and secure the oil shipping chain of China.
CMES and Sinotrans & CSC holds 51% and 49% equity in the company respectively. [24/09/14]