COSCO Shipping Energy Transportation has signed a Memorandum of Understanding (MoU) with PetroChina for crude oil transportation services.
Under the agreement, COSCO would deploy its vessels to ship crude oil for the China-Myanmar oil pipeline project, a part of Beijing’s Belt and Road project.
The shipping company informed that the cargos would be transported to and offloaded at the pipeline at Myanmar’s Made island on the country’s west coast.
Once developed, the Made island port, which loaded its first very large crude carrier (VLCC) in July 2017, would be able to accommodate 300,000-tonne and 150,000-ton tankers, according to COSCO.
World Maritime News Staff