China Shipping to Buy Two Tankers

Thursday, February 22, 2007
Bulk shipping operator China Shipping Development is spending $87m on another two oil tankers to boost capacity.

The new tankers, each with a capacity of 46,000 deadweight tons, are due for delivery between the fourth quarter of 2007 and the first quarter of 2009. Upon delivery, the shipping operator will control a fleet of 71 oil tankers with a combined carrying capacity of 3.5 million deadweight tonnes. The purchase of the two new vessels will be financed by bank borrowings, increasing the company's gearing ratio. China Shipping said it is optimistic about demand in the oil transportation market and expects growth in the coming years. In a recent research report, Goldman Sachs said the shipping firm could potentially enter into an attractive new business such as transporting liquefied natural gas. Earlier this month, the company placed orders for four Very Large Iron Ore Carriers. Source: The Standard

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HAL & Kelly Clark in ‘Attorneys Who Matter’ List Again

The Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, recognized Holland America Line and Seabourn’s

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

MARAD Evaluates Natural Gas v. Conventional Fuel Emissions

The Maritime Administration (MARAD) informs it has released a study that evaluates total fuel cycle emissions for natural gas versus conventional marine fuels.

Tanker Trends

Latest Ocean-Going Shipbuilding Orders

Clarkson Hellas notes in its latest 'S&P Weekly Bulletin' shipbuilding orders placed in the dry bulk, tankship, gas carrier and containership sectors, as follows: Dry

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: gplink

1500 Sensation Weigh Beaufort, NC 28516 Tel: (252) 504-2640    Email: dwebb@gplink.com Website: www.gplink.com President & CEO: Greg Poole, III The Company: gplink

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1356 sec (7 req/sec)