Cosco Shipping Energy Transportation (CSET) is ending its seven-year VLCC order drought by ordering six newbuildings at a Chinese shipyard.
The Shanghai-listed company disclosed that the 307,000-dwt crude tankers will be ordered through its subsidiary, Cosco Shipping Energy Transportation Hainan, also known as CSET Hainan or Hainan Energy.
CSET did not disclose the reason behind the order, but shipping players suggested that the newbuildings form part of the company’s fleet renewal and expansion programme.
