Cosco PetroChina Shipping secures oil shipping contract with Hengli Petrochemical

Cosco PetroChina Shipping secures oil shipping contract with Hengli Petrochemical

Cosco PetroChina Shipping, a joint venture between Cosco and PetroChina, has entered into an agreement with Dalian-based Hengli Petrochemical for the transportation of oil products.

The one-year contract will see Cosco PetroChina Shipping transport oil products from Hengli’s new petrochemical production base which commenced operations in March this year.

In June, Cosco Shipping Energy Transportation, the energy shipping unit of Cosco, transferred its shares in shipping subsidiaries Huayang Maritime and Huahai Petrol Transportation & Trading to Cosco PetroChina Shipping and also approved a plan for Cosco PetroChina Shipping to acquire four 28,000 dwt product tankers.

Hengli Petrochemical also runs a shipping subsidiary, Hengli Marine, which owns a fleet of 10 handy bulkers for the transportation of petrochemical raw materials.

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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