Liu Haobo, general manager of COSCO Shipping Energy and Zhong Ren, general manager of SINOCHEM Petroleum signed the 'Agreement on Cooperation in Tanker Transport' on behalf of the two companies.

This agreements corresponds to COSCO Marine Energy's needs to develop VLCC tanker capacity in the future. With this collaboration, COSCO Shipping Energy managed to expand its fleet by leasing five VLCCs from CNPC. 

Sun Yueying, chief accountant of COSCO SHIPPING Group, Huang Xiaowen, deputy general manager of COSCO SHIPPING Group, Feng Zhibin, Jiang Zhenghong, Yang Shihao, deputy general managers of Sinochem Corporation, heads of relevant departments and relevant units were part of the signing ceremony.