Cosco PetroChina Shipping lines up product tanker quartet

Cosco PetroChina Shipping lines up product tanker quartet

Cosco Shipping Energy Transportation has approved a proposal for its 51% owned joint venture, Cosco PetroChina Shipping, to join the bidding for four 28,000 dwt product tankers.

The vessels are currently listed by Kunlun Financial Leasing for sale at the Beijing Equity Exchange. The starting price for the four vessels is RMB472m ($68.7m) in total.

Last week, Cosco Shipping Energy Transportation, the energy shipping unit of Cosco,  approved a proposal to transfer its shares in two shipping subsidiaries into Cosco PetroChina Shipping and the company believes the collaboration with PetroChina will help it expand its presence in the domestic product oil shipping market.

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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