Cosco books four VLCC newbuildings

China Cosco has inked a deal on Monday to build four VLCCs at China State Shipbuilding Corp (CSSC), Seatrade Asia online reports.

Cosco said the newbuildings will incorporate environmentally-friendly features particularly in reducing the consumption of fuel.

Financial details for the deal were not disclosed.

State-owned Cosco had earlier revealed intentions to order up to 50 VLCCs in an attempt to help domestic shipyards and raise China's energy security.