Sinokor pockets $165m from sale of VLCC pair

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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