Shanghai. October 10. INTERFAX-CHINA - The Nanjing Water Transport (NWT) Industry Co., Ltd, an oil transportation service provider listed on the Shanghai Stock Exchange, announced that its new oil tanker officially started operation on September 28.
The oil tanker, which is named "Changhang Discovery", has a tonnage of 46,000 tons and total investment of as much as RMB 230 mln (USD 29.11 mln).
The operation of the tanker is expected to increase NWT's annual revenues by RMB 64 mln (USD 8.10) and profits by RMB 16 mln (USD 2.03 mln), the company forecast.
NWT has been actively expanding its marine oil shipment capacity in the past three years after the company's major client, Sinopec, built a 996-m long oil pipeline from Yizheng, Jiangsu Province to Changling, Hunan
Province. The pipeline reduced NWT's crude oil transportation business by 10 mln tons, the equivalent of 70% of the business on the Yangtze River in 2003.
NWT ordered three 46,000-tonne oil tankers - including "Changhang Discovery" - from Bohai Shipping Heavy Industry Co., Ltd in December 12 2003 at a cost of RMB 690 mln (USD 87.34 mln). The first tanker started
operation on July 6 and the last one is scheduled to complete construction in the first half of next year.
The oil tanker, which is named "Changhang Discovery", has a tonnage of 46,000 tons and total investment of as much as RMB 230 mln (USD 29.11 mln).
The operation of the tanker is expected to increase NWT's annual revenues by RMB 64 mln (USD 8.10) and profits by RMB 16 mln (USD 2.03 mln), the company forecast.
NWT has been actively expanding its marine oil shipment capacity in the past three years after the company's major client, Sinopec, built a 996-m long oil pipeline from Yizheng, Jiangsu Province to Changling, Hunan
Province. The pipeline reduced NWT's crude oil transportation business by 10 mln tons, the equivalent of 70% of the business on the Yangtze River in 2003.
NWT ordered three 46,000-tonne oil tankers - including "Changhang Discovery" - from Bohai Shipping Heavy Industry Co., Ltd in December 12 2003 at a cost of RMB 690 mln (USD 87.34 mln). The first tanker started
operation on July 6 and the last one is scheduled to complete construction in the first half of next year.