China VLCC Snags Two-Year Shipping Deal

China VLCC Snags Two-Year Shipping Deal

China Merchants Energy Shipping (CMES) and Sinotrans&CSC have trough their China VLCC joint venture signed a two-year crude shipping contract with West Pacific Petrochemical, a Dalian-based refinery operated by PetroChina.

The contract can be extended for one more year, provided that the both parties approve it, CMES said in a stock exchange filing.

CMES failed to disclose the number of chartered vessels, as well as the volume of the cargo to be shipped.

China VLCC currently has a fleet of 31 vessels, making it China’s largest very large crude carrier (VLCC) operator.

World Maritime News Staff

 

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