Cosco Shipping Energy Transportation has made a $550m move for seven tanker newbuildings in China.
Shanghai and Hong-Kong-listed Cosco Energy’s splash spans both new VLCCs and suezmaxes, according to a statement released today.
It is building four 319,000-dwt VLCCs at Dalian Shipbuilding Industry Co alongside three 158,000-dwt suezmaxes.
Cosco Energy says the overall contract is worth CNY 3.67bn
