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

Shipbuilding

Robert Allen Designed Tug Launched in Italy

Rimorchiatori Riuniti bolsters Porto di Genova fleet with another Robert Allan Ltd. designed tug Rimorchiatori Riuniti currently operates five Robert Allan Ltd.

Video: Submarine John Warner Launched for Testing

Huntington Ingalls Industries (HII) launched the Virginia-class submarine John Warner (SSN 785) into the James River on September 10 at the company's Newport News Shipbuilding division,

URAG Orders Two ASD Tugs from Damen

URAG, a German port and offshore towage provider based in Bremerhaven, has placed an order for two Damen ASD 2411 tugs. The contract was signed at the SMM exhibition in Hamburg.

Tanker Trends

For Europe's LNG Ports, Russia Gas Fears and US Exporters Buoy Demand

Gas buyers nervous of Russia cutting supply are helping solve Europe's problem of too many underused liquefied natural gas (LNG) terminals, as they seek space at France's Dunkirk plant.

Buckeye Pipeline Quietly Makes Key Acquisition

Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse.

Scorpio Tankers Receive 7 More Newbuildings

Scorpio Tankers Inc. say it has recently taken delivery of seven newbuilding vessels as follows: STI Madison and STI Park, LR2 product tankers, were delivered

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.1075 sec (9 req/sec)