China's Cosco Shipping Energy Transportation (CSET) has launched a VLCC pool with the backing of leading players including Navios Holdings, Wah Kwong and Landbridge Holdings.
Named China Pool, it has adopted the slogan: "We pool, we win."
The VLCC venture — first mooted in 2019 — will launch with a fleet of 42 tankers, totalling 12.9m dwt.
The fleet is set to grow, with Navios Holdings, Wah Kwong and Landbridge Holdings having signed letters of intent to join the pool, local news sources said.
