According to various reports, COSCO Shipping Energy is to proceed with a strategic investment in six 307,000 DWT VLCCs, to be built by Dalian Shipbuilding Industry Company (DSIC) and China Shipbuilding Trading Company for a total of RMB 5.748 billion. The company aims to expand their tanker fleet and meet increasing demand for energy transport across global markets.
According to Xinde Marine News, to support this expansion, COSCO Shipping Energy will increase its funding to its subsidiary, COSCO Shipping Energy Hainan, by up to RMB 1 billion.
Moreover, the company has also approved an acquisition loan to integrate its chemical logistics chain, underscoring its commitment to enhancing supply chain efficiency. This loan, up to RMB 630 million, will help drive further growth in the chemical logistics space.