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Cosco, ExxonMobil deepen cooperation on lubes purchase and ship leasing

China’s state-owned Cosco Shipping Energy Transportation has inked a memorandum of understanding (MOU) with oil major ExxonMobil to deepen their cooperation on marine lubricants purchasing and ship leasing.

The MOU will also see the two parties further explore more business opportunities to provide comprehensive solutions to clients.

"We have been providing shipping services for ExxonMobil for a long time. ExxonMobil helps us to control ship operation cost, improve efficiency, realise energy saving and reduce emission. The signing of the MOU will bring more cooperation opportunities for us," said Liu Hanbo, general manager of Cosco Shipping Energy Transportation.

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