Thursday, October 18, 2012

[Marine] CNPC's VLCC order approved

CNPC's VLCC order approved

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.


{C}
Published : October 17, 2012


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