COSCO Shipping Development Orders 16 VLCCs for $2.01 Billion
COSCO SHIPPING Development said it ordered 16 very large crude carriers from China State Shipbuilding Group for 13.43 billion yuan ($2.01 billion).
Shanghai-based COSCO SHIPPING Development SSE:601866, SSE:601866 said on Wednesday it had ordered 16 very large crude carriers (VLCCs) worth 13.43 billion yuan ($2.01 billion) from China State Shipbuilding Group.A VLCC is a class of massive oil tanker with a deadweight tonnage (DWT) typically rangi…