Reviews & Ratings for the New-Solution

In a strategic move to bolster its maritime capabilities, China VLCC, a collaboration between China Merchants Energy Shipping (CMES) and Sinotrans&CSC, has successfully acquired two used Very Large Crude Carriers (VLCCs) from Sinokor Merchant Marine for a total of USD 165 million. This acquisition, as reported by IHS Maritime 360, enhances China VLCC's operational fleet to 33 VLCCs. The agreements for the vessel purchases were formalized on April 27, with CMES's stock filing confirming the details on April 29. Notably, CMES holds a 51% stake in China VLCC, emphasizing its significant investment in this maritime joint venture. As per intelligence from IHS Maritime's Sea-web.com, the newly acquired vessels include the Beijing Sunrise, built in 2009, and the Dalian Glory, which was launched in 2011. These vessels previously operated under Nanjing Tanker's charter until the company chose to terminate the charter agreements in 2014. With these acquisitions, China VLCC is positioning itself for increased participation in the global energy transportation sector.