CSSC in VLCC joint venture with Rongsheng Petrochemical
The partners agree to ‘forge a rather large VLCC fleet’, which will serve a significant refining-chemical integration facility in Zhoushan, with an annual processing capacity of 40m tonnes of crude oil
A market downturn and lack of appetite for orders by traditional shipowners prompts the Chinese shipbuilding giant to establish ties with cargo interests. Brokers predict demand from the processing facility could spark demand for up to 30 very large crude carriers
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