Sinokor pockets $165m from sale of VLCC pair

Shanghai: Sinokor Merchant Marine has pocketed $165m from the sale of two VLCCs to China’s fastest growing supertanker owner. China VLCC, the joint venture between China Merchants Energy Shipping (CMES) and Sinotrans&CSC, now has a fleet of 33 VLCCs following this latest transaction.

The two ships – Beijing Sunrise (2009 built, 321,000 dwt) and Dalian Glory (2011 built, 302,000 dwt) – had been chartered to financially troubled Nanjing Tanker until last year. Nanjing Tanker is a subsidiary of Sinotrans&CSC.

China VLCC was established last September.

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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