China Ship to Build $308m Worth Tankers

Tuesday, March 06, 2007
China Shipping Development Co. Ltd. said on it planned to build six oil tankers worth $307.56m for delivery in 2009 and 2010 to help expand its ocean shipping business. China Ship has signed an agreement with China's Dalian Shipbuilding Industry Co. Ltd. to build six tankers with a capacity of 76,000 tons, China Ship said in a filing to the Shanghai Stock Exchange.

The deal needs the approval of shareholders, it said. China Ship would pay in five installments, with 20 percent of the cost coming from its own capital and 80 percent from bank loans, it said.

It said the company had 69 oil tankers, with a combined capacity of 3.4m tons by the end of 2006. China Ship's Shanghai A shares rose 2.41 percent to close at 12.30 yuan on Friday. Source: Reuters

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

Shipbuilding

AVEVA E3D Takes Center Stage

Customer case studies combine with advances in asset visualization and cloud technologies to showcase a new era in the creation and management of complex Digital Assets.

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

Hyundai Heavy Plummets to Worse Loss Ever

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of $1.8 billion and warned it's heading for its

Tanker Trends

Iran Gas Exports to Europe Would Take at Least 5 Years

Iran would take at least five years to start exporting natural gas to the European Union if sanctions were removed, industry experts said on Wednesday. Last month,

CSC Launches Gas Storage Integrity Management Team

UK-based Chesterfield Special Cylinders (CSC) has launched a new integrity management team to work with owners and operators of high pressure gas storage vessels as installed in rigs and ships,

China Aviation Oil Seeks Jet Fuel for Nov-Dec

China Aviation Oil (Singapore) is seeking up to 2.056 million barrels of jet fuel for loading over November to December, a tender document showed on Wednesday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1040 sec (10 req/sec)