Greater China

Oriental Energy inks VLGC charter contract

Shanghai: Oriental Energy, a Chinese clean energy group, announced that it has signed a ship chartering contract with Panama-registered Southern Pacific Holding Corporation for the chartering of a newbuild 84,000 c um VLGC.

According to the contract, Southern Pacific will order the ship and deliver it to Oriental Energy before the end of 2016. The chartering period is seven years with options to extend another three years. The annual chartering rate is $13m.

Oriental Energy said the chartering contract will provide a logistics guarantee for its international resources and will help the company to expand in the international market. [27/06/14]

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