China’s shipping firm to serve new chemical plants in Dalian

22 October 2012 10:05  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Dalian Hezhong Shipping is planning to acquire at least 20 chemical tankers by 2015 as part of its strategy to meet logistics needs of new petrochemical plants coming up in Dalian, a company source said on Monday.

The shipping company was set up last month by Dalian port and Shipping Industry Fund (DPSIF) to serve domestic needs of petrochemicals units on Changxing Island.

“With the start-up and expansions of Hengli [Petrochemical], Dalian Fujia [Dahua Petrochemical] and Petro China, it is a good time to start a shipping company, focused solely on domestic business,” the source said

“There are plans to acquire more than 20 chemical tankers by 2015,” the source added.

The new company has also acquired a Chinese chemical tanker owner, Shanghai Sanhan Shipping, to operate the fleet.

The company has already put in orders for four 2,450 dwt (dead weight tonnage) stainless steel chemical tankers at Chongqing Chuandong Shipbuilding Industry Co (CCSIC) to be delivered in the year 2013 and 2014.

The four tankers were purchased for around $12m (€9.24), market source said.

The company was trying to secure finances to order more vessels, the source added.

($1 = €0.77)

By: Hazel Kumari
+65 6780 4327

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