China Shipping Development Co Ltd, the largest carrier of crude oil in mainland China, last week said it has agreed to earmark RMB 2.55 billion to acquire 12 coal transportation vessels, sources reported.
In a statement filed with the Shanghai Stock Exchange, the Shanghai and Hong Kong dual listing firm said that the vessels are expected to be delivered between May 2012 and April 2013.
The deal is still subject to approval from its shareholders, said the statement.
China Shipping Development, a subsidiary of state-owned China Shipping (Group) Co, is principally engaged in operating dry bulk vessel fleet for oil and coal transportation.
In a statement filed with the Shanghai Stock Exchange, the Shanghai and Hong Kong dual listing firm said that the vessels are expected to be delivered between May 2012 and April 2013.
The deal is still subject to approval from its shareholders, said the statement.
China Shipping Development, a subsidiary of state-owned China Shipping (Group) Co, is principally engaged in operating dry bulk vessel fleet for oil and coal transportation.