Zhejiang Satellite Petrochemical has announced that it has finalised a deal to transfer the ownership of six 98,000 cu m VLECs to Malaysian national shipping group MISC.
According to Zhejiang Satellite, it has received the transfer of RMB1.553bn ($227m) from MISC to cover the down payment the company made to the shipyards at the beginning stage of the ship construction, and the deal has been completed.
The six VLECs are currently under construction at South Korean yards Hyundai Heavy and Samsung Heavy.
Earlier this month, Pang Tian, one of the three VLECs under construction at Hyundai Heavy suffered water ingress and listed starboard after the Typhoon Maysak hit the region. Delivery of the vessel is expected to be delayed.