China VLCC Offloads Second-Hand Duo

  • Business & Finance

China VLCC, a joint venture company between China Merchants Energy Shipping (CMES) and Sinotrans&CSC, has signed contracts to sell two second-hand very large crude carriers (VLCCs).

The VLCCs are 6 and 7 years old, featuring 297,600 tons in DWT dwt and they will be sold for USD 117.5 million.

The undisclosed purchaser is said to be registered in Marshall Islands, CMES revealed in a stock exchange filing.

The entry into force of the agreement is still subject to the board of directors’ approval of both companies.

Separately, China VLCC has taken delivery of a new vessel on May 19th, the VLCC New Constant in Dalian, China from Dalian Shipbuilding Industries.

With the recent fleet addition, China VLCC has operations in 36 VLCC tankers and orders for 17 more ships.

World Maritime News Staff

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