Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

China VLCC buys a pair of secondhand VLCCs

China VLCC buys a pair of secondhand VLCCs
Joint venture firm China VLCC has entered into a deal to purchase a pair of secondhand VLCCs from Sinokor Merchant Marine at a total price of $165m.

China VLCC, a joint venture of China Merchants Energy Shipping (CMES) and Sinotrans & CSC Group, signed the vessel acquisition deals with Sunrise Petrochemical and Nanjing Fountain, both subsidiaries and single-vessel owning companies of Sinokor Merchant Marine, CMES announced to the stock exchange.

The two secondhand VLCCs are four to six years old with capacity of 302,000 dwt and 321,000 dwt respectively.

The latest pair of VLCCs will bring China VLCC’s fleet to 33, after the company took delivery of two newly-built oil tankers and one secondhand tanker in February.

China VLCC was established in September last year with an aim to serve China’s rising demand for oil imports.

TAGS: Tankers