According to an article published in Splash, Cosco Shipping Energy Transportation has approved a proposal for its 51% owned joint venture, Cosco PetroChina Shipping, to join the bidding for four 28,000 dwt product tankers.
Vessel specs
The vessels are currently listed by Kunlun Financial Leasing for sale at the Beijing Equity Exchange. The starting price for the four vessels is RMB472m ($68.7m) in total.
Collaboration to expand its presence
Last week, Cosco Shipping Energy Transportation, the energy shipping unit of Cosco, approved a proposal to transfer its shares in two shipping subsidiaries into Cosco PetroChina Shipping and the company believes the collaboration with PetroChina will help it expand its presence in the domestic product oil shipping market.
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Source: GlobeNews
