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China Shipping Development Orders Four VLCCs  2015-02-13

China Shipping Development has announced that a subsidiary of the company, CS Development Hong Kong, has entered into agreements for the construction of four VLCCs with China Shipbuilding & Offshore International Company and Dalian Shipbuilding Industry Company.

The four 308,000dwt VLCCs, with a total value of $375.9m, will be constructed by Dalian Shipbuilding Industry Company and are scheduled to be delivered between May 2017 and September 2018.

The construction of the VLCCs will be funded by bank funding and internal financial resources.

The delivery of the new vessels will enable the company to optimize its overall route arrangements and improve its operating efficiency and profitability, said the company.

(Source: Sinoship News)