CSDC Orders Four VLCCs

China Shipping Development Company  (CSDC) has through its Hong Kong-based unit ordered four Very Large Crude Carriers (VLCCs) worth USD 375.9 million.

The company signed a contract with compatriot shipbuilder Dalian Shipbuilding Industry Co (DISC) for construction of four 308,000 DWT carriers earlier today.

The vessels, each with a price tag worth USD 93.9 million, are expected to start delivery in May 2017, with the final unit slated for delivery in September 2018, the company said in a filing to Shanghai Stock Exchange.

CSDC said it expects to see around USD 48m net profit for the year ended December 31, 2014.

The company attributed the positive results to ”the increase in freight rates in the international oil transportation market, and efforts made by the group to further strengthen its control over costs, resulting in notable achievement particularly over fuel costs and labor costs.”

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >