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24

China to Safeguard Its Oil Tankers

China is expanding their oil tanker fleet transportation capacity

China is expanding their oil tanker fleet transportation capacity to intensify the safety of its vulnerable oil supplies.
The Chinese government plans to increase domestic companies' share in the delivery of Chinese oil imports.
China Ocean Shipping Group President Wei Jiafu said that the firm, the nation's largest shipping company, plans to build 15 large crude carriers by 2010, to become China's largest crude shipping fleet.
China Ocean Shipping currently has a total of seven crude carriers in its fleet.
The total value of the fleet will reach US$1.2 billion.