GasGreater China

Cosco seals landmark VLEC deal with Liaoning Bora Enterprise

Cosco Shipping Energy Transportation has signed a letter of intent with Liaoning Bora Enterprise, a major private petrochemical company in northeastern China, to collaborate on a VLEC project.

While the details of the deal were not disclosed, the deal could mark Cosco’s entry into the ethane carrier market as the group currently doesn’t have any VLECs in its fleet.

In September, Panjin-based Bora Enterprise and Dutch petrochemical company LyondellBasell announced the establishment of a 50/50 joint venture for the development of a major polyolefin complex in Liaoning in order to meet the growing demand in China.

Liaoning Bora also operates a petrochemical terminal at Panjin Port through its subsidiary Liaoning Haihang Industry.

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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