Cosco Shipping Energy in VLEC deal with Chinese petrochemical company
The deal to increase cooperation is likely to result in a long term transportation contract. Chinese shipping companies typically provide transportation for compatriot industrial companies
No specific details were disclosed but Liaoning Baolai is an existing customer of CSET and progress on a firmer transportation deal is expected. Fellow petrochemical player Zhejiang Satellite Petrochemical earlier this year signed a sale-and-leaseback deal for six VLECs with Malaysia's MISC