China's state-owned energy company China National Petroleum Corporation (CNPC) is said to have won approval of newbuilding order for very large crude oil carrier (VLCC) by the government.
China National Development & Reform Commission (NDRC) turns out to have made a regulatory filing in September that it has approved Zhong Wei Shipping's newbuilding VLCC project.
Zhong Wei is a joint venture company head quartered in Singapore, established by 50-50 investment by CNPC and state-owned oil company in Venesuela.
Zhong Wei plans to place an order for two 320,000-dwt VLCCs and sign options for two additional vessels later.
Meanwhile, Zhong Wei appears to have contracted for two plus two 320,000-dwt VLCCs with CSIC-affiliated Bohai Shipbuilding Heavy Industry Company in 2010, which had been CNPC's first VLCC order.
Published : October 17, 2012
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