Exciting developments at COSCO Shipping Energy (CSET)! CSET's Board approved a strategic investment in six 307,000 DWT VLCCs, to be built by Dalian Shipbuilding Industry Company (DSIC) and China Shipbuilding Trading Company for a total of RMB 5.748 billion. This major step aims to expand their tanker fleet and meet the increasing demand for energy transport across global markets.
To support this expansion, CSET will increase its funding to its subsidiary, COSCO Shipping Energy Hainan, by up to RMB 1 billion.
But that’s not all—CSET also approved an acquisition loan to integrate its chemical logistics chain, underscoring its commitment to enhancing supply chain efficiency. This loan, up to RMB 630 million, will help drive further growth in the chemical logistics space.
With these moves, COSCO Shipping Energy not only solidifies its standing in energy transport but also reinforces its strategic position in logistics.
by Xinde Marine News Chen Yang
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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