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  • 2008 September 11 10:03

    China Shipping picks up more tankers

    Local reports confirmed Thursday that China Shipping Development (Hong Kong) Co., Ltd., has ordered four oil tankers each with a carrying ability for 76,000 tonnes of crude oil or oil products.

    The China Shipping Development subsidiary placed the $228 million order with Dalian Shipbuilding.

    20% of the cost is slated to be self-financed with 80% being picked up by bank loans.

    Delivery has been scheduled from middle to late 2011.

    As of June 30, 2008 China Shipping Development owned 56 oil tankers, including 31 crude and 25 product tankers, with a total carrying capacity of 3.58 million tonnes, reported the Xinhua News Agency.

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