Dalian: Tianjin Marine has announced that it has signed an agreement with Bank of China. Under the agreement, Tianjin Marine will use RMB2.8bn ($447.7m) from the raised fund to invest in low-risk bank products with an annual ROI of 4.6%.
Tianjin Marine is currently proceeding with its fleet update plan. It announced late December that it would use $400m of raised funds to order four VLCCs as part of a plan to order 10 VLCCs and four LNG carriers. [27/02/15]
