China’s Cosco Shipping Energy Transportation have signed an agreement with Dalian Shipbuilding, on November 20, for the construction of seven vessels, including four 319,000 DWT VLCC tankers and three 15.8 DWT Suez tankers.
According to the agreement between the two companies, the four 313,000 dwt VLCC tankers will be delivered gradually, starting from August 2020 and continuing until October 2020, December 2020, with the last vessel expected to be delivered on March 2021.
Furthermore, the 2 Suezmax tankers are planned to be delivered by August 2020, November 2020 and January 2021, respectively.
Additionally, Cosco will conduct a Extraordinary general meeting (EGM) in order for the shareholders to approve the agreement.
Morevoer, Cosco proposed a non-public offering in order to finance the tankers, the company mentioned.
“If the non-public offering failes to be implemented, Cosco will fund the construction of the seven vessels,” Cosco said in an announcement.
