Tianjin Tianhai Investment looking to sign for eight newbuild VLCCs

Tianjin Tianhai Investment looking to sign for eight newbuild VLCCs

Shanghai-listed Tianjin Tianhai Investment, formerly Tianjin Marine, has announced that the company is going to invite tenders for the construction of four VLCCs plus four options.

The board of the company approved the plan to build four VLCCs in 2014 with a budget of $400m.

The company has commissioned China National Technical Import & Export Corporation for the tender work.

Tianhai Investment reported a net profit of RMB95.3m ($14.9m) for the first half of 2015, greatly improved from RMB6.8m ($1.06m) in the same period of 2014.

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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