Cosco Tanker Shipping is planning to order 10 new supertankers at price of around 950,000,000 USD. The state-owned Chinese shipowner is in need of fleet capacities increase, amid the rising crude oil imports of the Asian country. The plan is still at early stage, but most probably the contract for the building of the new vessels will be signed in early 2013 and the deliveries will be expected in 2015-2016. The growth of the crude oil imports in China is incredible, because of the improved powers of the heavy production of the country. For the last five years the important in the Asian country grew with 66% and according to the specialists the demand will increase much more. The negotiations for building of the 10 new supertankers for the Cosco fleet are not started year, but in any case the company requested a few offers from several shipyards before making contract with anyone.
Cosco Tanker Shipping has plans to develop new, more modern and environmental ships, which will be more effective and really profitable for the company. The general director of the tanker arm Dalian Ocean Shipping Co, announced that in spite of the bad situation in the maritime transport and the overcapacity of VLCCs, the new and more modern ships will be highly effective and the investment in their building will be repaid much faster.