Sponsored By

CSSC and Zhejiang Rongsheng in VLCC joint ventureCSSC and Zhejiang Rongsheng in VLCC joint venture

China State Shipbuilding Corporation (CSSC) has inked strategic cooperation framework agreement with private company Zhejiang Rongsheng Group to jointly build and operate a fleet of VLCCs.

Katherine Si, China Correspondent

November 9, 2020

1 Min Read
rongsehngpet
Image: Zhejiang Rongsheng

According to the agreement, the two parties will jointly invest in and develop crude oil transportation including set up joint venture to build and operate a large size VLCC fleet to providing a stable and efficient supply chain for Rongsheng’s petrochemical project in Zhoushan.

CSSC said that the cooperation would strengthen marine equipment manufacture capability of CSSC and promote petrochemical industry development of Zhejiang, which would also help ensure national energy security and improve the leading position of CSSC in the construction of VLCCs.

Zhejiang Rongsheng is a leading private petrochemical industry player in China. The company is currently developing a petrochemical project at Zhoushan, Zhejiang province, with a production capacity of 40m tons per year.

The VLCCs are expected to be deployed on crude oil transportation between Middle East and Zhoushan.

Read more about:

CSSC

About the Author

Katherine Si

China Correspondent

China-based Katherine Si has worked in the maritime industry since 2008 is well-connected with local industry players including Chinese owners and yards.

Having majored in English Katherine started at news portal ShippingChina.com where she rose to become a News Editor. In 2008 she moved to work with Seatrade and has since held numerous positions including China correspondent for Seatrade Maritime Review magazine.

With extensive experience in writing, research and social media promotion, Katherine focuses on the shipping and transport sectors.

Get the latest maritime news, analysis and more delivered to your inbox
Join 12,000+ members of the maritime community

You May Also Like