30 ships!CSSC and private giant jointly build VLCC fleet

The cooperation between China State Shipbuilding Corporation and the private giant Rongsheng Group is officially finalized to build a VLCC fleet.

About 30 ships! CSSC and private giant Rongsheng Group jointly build VLCC fleet

On the afternoon of November 5th, China State Shipbuilding Corporation and Zhejiang Rongsheng Group signed a strategic cooperation framework agreement and a joint venture cooperation agreement in Zhejiang. CSSC Leasing and
Rongsheng Group established a joint venture to invest in the construction of VLCC.

Rongsheng plans to build a VLCC fleet to transport crude oil from the Middle East to its green petrochemical base in Zhoushan, Ningbo.

Zhoushan Green Petrochemical Base will build three 20 million tons/year integrated refining and chemical projects. After all of them are put into production, Rongsheng will need about 30 VLCCs to transport crude oil imported from the Middle East.

Rongsheng may not order all 30 VLCCs at one time. The first batch will order 2-10 VLCCs, and the remaining ships will be ordered in the future.

CSSC's Waigaoqiao Shipbuilding, Dalian Shipbuilding Industry and Guangzhou Shipyard International are competing for this order. This batch of VLCCs will use conventional power, and the price of each vessel will be around US$83-85 million.

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